General Motor Bankruptcy Essay

It appears that they had drifted away from their mission to become and stay the leader of the automotive industry, now their paying the price. Recently, GM’s stock price had fallen from $96 per

General Motors Corporation (NYE: GM) is the leading American automaker in the world with its operations spanning in 157 countries. The car manufacturer was established in 1908 in Michigan and today it is headquartered in Detroit, the United States of America. Besides the domestic industry of the United States of America, General Motors manufactures cars and trucks in other 30 countries around the world. Among its brand products are Cadillac, Buick, Chevrolet, GMC, GM Daewoo, Hummer, Holden, Opel, Saab, Pontiac, Vauxhall, and Saturn. Besides these brands that are owned by the automaker, GMC also operates joint ventures in China and Japan. That is, Shanghai GM and SAIC-GM-Wuling

Before the Great Recession of 2009, GM owned a bevy of brands including Chevrolet, GMC, Oldsmobile, Buick, Pontiac, Cadillac, Hummer, and Saturn, including other international brands in Alpheon, Daewoo, Saab, Vauxhall, Opel, Wuling, and Holden. After the recession, bankruptcy, and federal restructuring, the GM United States offerings were left with Chevrolet, GMC, Buick, and Cadillac. GM still has the international automobile companies of Alpheon, Vauxhall, Opel, and Holden, with Daewoo now being a parts subsidiary. But the writing was on the wall as the automotive giant was losing touch with what the American public wanted. Instead of building vehicles the public wanted, GM built vehicles that they wanted to build and thought the public would buy their brand regardless (Boe, Ketler, O 'Keefe, Rubenstein, & Siverio, 2009). But as time marched on, GM became more in debt and grew to be

Think of it this way, all of the debt, problems, and poor choices made by the notoriously distinguished old GM were put on a boat (Motors Liquidation, Inc.) and given a viking burial (code 363 liquidated (sold in parts for as much profit as possible)) while every asset went to a new company convolutedly called General Motors. Basically, New GM made out like a bandit.

In the latter part of 2008, the United States’ economy was rapidly plummeting - the stock market crashed, the housing bubble burst and gas prices skyrocketed. The majority of U.S. based firms faced the reality that they would not be able to survive during such desperate economic times. The U.S. automobile industry, in particular, began to buckle under the depressed economy. The government stepped in proposing a multi-billion dollar bailout to stimulate the economy and restore economic balance. The possibility of this unprecedented government intervention was condemned by many economists. If the government helped the ailing automotive industry, this industry would have to tighten their expenditures and plan for the future to prove to

General Motors Corporation (General Motors or GM) was incorporated on August 11, 2009. Also known as GM, the company designs, builds and sells cars, trucks and automobiles parts globally and headquartered in Detroit, Michigan. The company also provides automotive financing services through General Motors Financial Company, Inc. (GM Financial).

GM divides itself into the four automotive segments GM North America (GMNA), GM Europe (GME), GM South America (GMSA), and GM International Operations (GMIO) to serve the world’s six populated continents. GMNA, GM’s largest segment, manufactures, develops, and markets vehicles under the brands Buick, Cadillac, Chevrolet, and GMC to meet the demands of wholesalers, retailers, and fleet customers in North America. Elsewhere, the company provides the brands Holden, Opel, and Vauxhall as well as its North American vehicle lineup. GM also maintains direct or indirect equity stakes in various regional subsidiaries, mostly in Asia, and these companies extend the GM vehicle lineup to include Alpheon, Baojun, Jiefang, and Wuling. One should note retail and fleet customers obtain a wide range of aftersales vehicle services and products through the GM dealer network, such as maintenance and collision repairs.

In recent years, the global recession has made a huge impact on the company cash flows and its financial situation. To sustain as a global leader in the highly competitive automobile industry the GM needs to have its own strategic plan to produce the next generation of vehicles and it has got no time to delay. This is a crucial time for automobile industry with many threats, but opportunities as well. The company has to choose the best "opportunities" to overcome the "threats" and "weaknesses" using its "strengths". The next several years will redefine

General Motors Corp. (NYSE: GM), the world's largest automaker, has been the global industry sales leader for 76 years. General Motors was founded 1908, in Flint, Michigan and currently employs approximately 284,000 people around the world. GM's global headquarters is the Renaissance Center located in Detroit, Michigan, USA, They currently manufacture their cars and trucks in 35 different countries. Its European headquarters are based in Zurich, Switzerland, and its Holden headquarters are located in Melbourne, Victoria, Australia. In 2007, 9.37 million GM cars and trucks were produced globally under the following 12 brands: Buick, Cadillac, Chevrolet, GM Daewoo, GMC, Holden, Hummer, Opel, Pontiac, Saab, Saturn and

General Motors was founded by William Durant on September 16th, 1908. General Motors (GM) is an American based automobile manufacturing company. From its inception, GM has grown from a small Detroit, Michigan manufacturing plant to one of the top three auto manufacturers in America and the world’s second largest. GM has manufacturing plants in 35 countries and sells in over 200 countries. Throughout the years, recognizable brand names such as Oldsmobile, Opel, Cadillac, Pontiac and Chevrolet have become a part of GM. The company has branched out into the aviation and financial lending fields as well. Recent economic meltdowns have affected GM to point of bankruptcy in 2008. It took an

General Motors Corporation, hereafter referred to as GM, has an impressive history spanning over 100 years. According to GM 's website, GM is the "global industry sales leader since 1931," and their sales are representative of such a business. GM has a responsibility to its stakeholders to remain competitive and profitable. With the decline in the economy dating back to approximately year 2000 and the impact of rising fuel prices, GM found itself in a struggle to remain profitable. Losses in profit coupled with high inventory levels, GM recognized the need for an unprecedented sales promotion to empty its dealerships of the rapidly aging current year models. In June 2005, GM announced its "Employee

market share of General Motors fell from 28.2% in 2000 to 17.6% by 2014. The other two of the Big

General motors, or GM as some people refer to the company as, is an automotive manufacturing company. According to the about section on the GM website there are 10 distinctive automotive brands under the General Motors corporate umbrella, they serve 6 continents, have 215,000 employees, and the global headquarters are in Detroit, Michigan. (General Motors). Until 2008, when it was overtaken by Toyota, GM was the world 's biggest carmaker, producing well over 9m cars and trucks a year in 34 different countries. (The Economist, 2009). The late 2000s were tough years on families and companies because everyone was struggling. We saw people getting pay cuts, people losing jobs, companies closing, and a skyrocket in the price of fuel. “The Great Recession—which officially lasted from December 2007 to June 2009—began with the bursting of an 8 trillion dollar housing bubble. The resulting loss of wealth led to sharp cutbacks in consumer spending.” (The State of Working America).

The North American production capacity is currently being used not only to serve the domestic market but to boost supply for the export markets as well. Common platform design strategies and sophisticated levels of plant automation allow GM to

GM will use the trip into bankruptcy court to shed plants, dealerships, debt and other liabilities it can no longer afford. Emerging out of bankruptcy quickly will be a "new GM," made up of the four brands that GM will keep in the U.S. market -- Chevrolet, Cadillac, GMC and Buick -- as well as many of its more successful overseas operations.