General Motors Company Health Statement

Then, on June 1, 2009, General Motors filed for Chapter 11 bankruptcy after failing to successfully negotiate deals with bond holders (Start Fresh Today 2012).

In late 2008, General Motors was in financial distress due to some major financial liabilities. These included

This company was created to challenge the Ford Motor company in the twentieth century. General Motors created automatic transmissions, practical air conditioning, and the very first version self start. These creations gave General Motors the edge over Ford and other car companies at the time. “In the early years, GM's marketers added style and color to cars, putting Henry Ford and his industry-leading Model T's on the defensive” (Woodyard 03).With knowledge and advancement General Motors performed well and gained from it. But in recent years General Motors started to cut corners and build things of a cheaper quality making mistakes. These mistakes and corner cutting created problems for General Motors. It eventually lead to General Motors filing for bankruptcy on June 1st in 2009. General Motors was eventually saved from their bankruptcy but the damage was done. The General Motors plant in Moraine Ohio was shut down causing a lot of people to lose their jobs. The mistakes General Motor made did not just hurt themselves but the people who relied on those jobs. There are people who are now homeless and are struggling. The knowledge General Motors had helped them reach their success but the creators lost sight of their morals. They took the easy route and failed hurting plenty of people destroying hundreds of families and people's

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.

When it comes to car brands many people have their personal or family preference. There is lots of choices from Chevy (gmc), Ford, Honda, Toyota, Cadillac, Lincoln... You get my drift there are a lot of different choices. There has been a war old as ages between Ford or GM. As we get further into the review you will find out about reliability and price safety and other features these brands offer. We will let you decide which you want to pick.

1. The sign of GM’s impending financial distress is first seen in 2005. GM reported a net loss of more than $10 billion and has continued to post annual losses since that time with losses reaching almost $31 billion in 2008. GM's cash flow from operations in 2005 was a negative $16.8 billion. Reviewing GM’s stock price, we can see that the stock price also decreased dramatically started in 2004 to 2008. In 2005, GM’s stock traded around $19 per share and reached the lowest of $1.45 per share on March 2009.

18. Why did Ford, GM and Chrysler undergo a harsh downturn relative to other car makers?

The History of Chevrolet One of the most famous brands of automobiles the world has ever seen was Chevrolet. Throughout history, Chevrolet has invented products and made innovations that have been game changers in the automotive world. Even to this day, Chevrolet continues to innovate, redesign, and develop new technologies that help to advance in comfort, compatibility, and safety for the cars of the future.

General Motors had to restructure the way they did business after being saved by a Government bailout (Bigman, 2013). The company understood that in order to be able to achieve success again, they would have to restructure many things; After 3 years of being bailed out, the company established a goal of $10 billion dollars a year (Kinicki & Williams, 2013), they changed their perspective into focusing on making more margins and profits, instead of focusing on incentives and units sold. In 2012 GM reported net income of $8 billion dollars, but the company plans to be more aggressive in terms of income and profit generated after paying expenses; which was one of the areas where the company had to make adjustments and restructure in order

General Motors Company, incorporated as a Delaware Corporation in 2009, designs and builds cars, trucks, and automobile parts for worldwide sale. This “New GM” emerged after the Chapter 11 Reorganization of the 100-year-old “Old GM” in 2009. According to their company website, the “unyielding mission” of the New GM is to “earn customers for life.”

General Motors has defined their organizational culture as "Design, Build and Sell the World's Best Vehicles". In the design portion of this definition, GM focuses on core brands in order to become a leader in research and development. In the build portion of this definition, GM strives to operate in an environmentally and socially responsible manner. In the sell portion of this definition, GM strives to maximize revenues, offer customers high residual value, and lower incentives. GM's mission statement reads, "General Motors is a multinational corporation engaged in socially responsible operations, worldwide. It is dedicated to provide products and services of such quality that our customers will receive superior value while our employees and business partners will share in our success and our stock-holders will receive a sustained superior return on their investment." This mission cannot be more ironic.

General Motors was once a back bone of American economy. It was one of those organizations who were the driving force of American automotive industry single handedly. But like any other enterprise, it has its strengths and weaknesses. Global presence with an impeccable distribution system which ensures a highest reach out couple with strong research and development gives it a competitive edge over its rivals however it has also borne its share of trouble mainly caused by recession. But now that market is picking up again, GM is also showing steady growth.

General Motors is one of the world's most dominant automakers from 1931. After 1980s economic recession the main goal for automobile companies was cost reduction. Customers became more price-sensitive. Also Japanese competitors came into market with the new effective system of production. So market was highly competitive and directed toward price reduction. The case states that in 1991 GM suffered $ 4.5 billion losses and most part of the costs of manufacturing was due to purchased components. GM NA hired Lopez in order to find the way from "extraordinary" situation and reduce costs.

Creation, acceleration and emotion are the key components for any automobile industry to deliver its goods to the expected standards. General Motors, popularly known as GM has been a pioneer in the global autoindustry for more than 100 years. Developing from horseless carriages to the latest sports cars, innovations have always excelled at putting the world on wheels. In fact, there are a lot of exciting things to share about the company. GM’s corporation started in 1892 by R.E. Olds, with a solid financial foundation, which enabled him to produce great vehicles for customers and build a bright future for employees, partners and shareholders. GM slowly initiated its staff of experts in the factories which are located in different parts of the globe and acquired the brands like Chevrolet, Pointiac, GMC, Buick, Cadillac(General Motors Corporation, 2015). Leading the way is their tailored leadership team who set high standards for the company so that they can produce the best cars and trucks. This means that GM is committed to deliver vehicles with compelling designs, flawless quality and reliability, leading safety, fuel economy and commercial features. All are intended to create that special bond that can only happen between a driver and a vehicle. General Motors is a customer driven company and aims at earning customers

Forwarded here with a term paper report on “General Motors Bankruptcy” submitted by Siddharth Dixit Enrollment No A7004611108 student of