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AP Report
Former General Motors Corp. Chairman and Chief Executive Rick Wagoner won’t get a severance payment from the automaker, but he’ll still get a pension and other benefits worth an estimated $23 million.
In nearly 32 years with the company, Wagoner accrued pension benefits that the company valued at $22.1 million at the end of last [...]

General Motors CEO Rick Wagoner has agreed to step down as chief executive of the struggling auto maker. Mr. Wagoner was compelled to do so by members of the Obama administration in return for more bailout money for the automobile giant.
The following is a statement issued Monday by General Motors Corp.:
On Friday I was in [...]

General Motors has announced the acquisition of Delphi’s steering operations. Terms of the deal  were not yet disclosed, though GM agreed to increase its credit commitments to Delphi to $450 million from $300 million, effective March 24.
GM gained media attention recently for essentially black mailing the US government for an extra $17 billion on top [...]

GM’s proposal to restructure the company includes $30 billion from the US taxpayer while firing another 47,000 of those same taxpayers.
General Motors submitted the plan to the Treasury  today to explain how the Detroit automaker will become viable and repay its loans. It says GM will try to borrow up to $16.6 billion more from [...]

GM is considering chapter 11 bankruptcy and forming  new company.
WSJ reports  “”One plan includes a Chapter 11 filing that would assemble all of GM’s viable assets, including some U.S. brands and international operations, into a new company.”
The plan would allow the new company to keep the viable assets while liquidating the undesirable assets under the [...]

General Motors has announced that it will cut 10,000 jobs, or 12% of it’s global work force.
The majority of the U.S. job cuts is set to take place before May 1. The remaining GM workers are likely to see a 3% to 7% reduction in pay for the rest of the year.
GM has received [...]

2009 will be a year of complete destruction for the US economy. 5 Million will lose their jobs. The Dow Jones Industrial average will break below 6,000. Municipalities will fail. Insurers will fail. The unemployed and foreclosed American population will take to the streets and begin rioting. The Greatest Depression is upon us.
Sound far fetched? [...]

There’s been some speculation on GM today amid rumors of Shanghai Automotive Industry Corporation (Group) (SAIC). The deal, which was originally reported by the Chinese news site www.nbd.com.cn, was later officially denied by SAIC.
Another Chinese News Source, 21st Century Business Herald, later reported that Chinese state-owned companies such as Shanghai Auto and Dongfeng may have [...]

Russia’s RIA Novost Reports – A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse, and will divide into separate parts.
Professor Igor Panarin said in an interview with the respected daily Izvestia published on Monday: “The dollar is not [...]