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June 5, 2009

General Motors, Penske Reach Tentative Deal Over Saturn

General Motors Corp. and Penske Automotive Group confirmed last Friday a tentative deal for GM to sell its Saturn brand to the dealer group.

June 2, 2009

GM Bankruptcy Has Marginal Effect on GMAC U.S. Auto ABS, Says Fitch

General Motors Corp. (GM)’s filing for Chapter 11 bankruptcy protection is expected to have limited immediate ratings implications on outstanding auto related ABS transactions issued by GMAC, according to Fitch Ratings.

June 2, 2009

GM Honors Warranty Programs, Gets Access to $15 Billion Credit Facility

General Motors Corp. said Monday that it received U.S. bankruptcy court approval to continue honoring all vehicle warranty programs and dealer incentive plans, as well as access to approximately $15 billion of a credit facility provided by the U.S. Treasury, and the Canadian and Ontario governments.

June 1, 2009

GMAC to Continue Operations During GM’s Bankruptcy

On the heels of General Motor’s Chapter 11 bankruptcy filing on Monday, GMAC Financial Services issued a statement saying it is taking the appropriate steps to protect its interests during the troubled automaker’s restructuring.

June 1, 2009

DBRS Places GMAC Loans Under Review

As a result of General Motors LLC (GM) bankruptcy filing Monday with the U.S. Bankruptcy Court, DBRS has conducted an analysis of all DBRS-rated outstanding retail auto loan, lease and wholesale ABS transactions originated by GMAC LLC.

June 1, 2009

GMAC Responds to GM Bankruptcy Filing

GMAC Financial Services is a creditor of General Motors Corp. (GM) and as such is taking the appropriate steps to protect GMAC's interests during GM's restructuring.

June 1, 2009

Time to Move On

Unsure of where this recession is headed, I can’t blame lawmakers for their involvement, but can we make sure that all sides are heard before we jump to conclusions.

May 29, 2009

UAW Members Approve Changes to GM Labor Agreement

General Motors today confirmed that its UAW-represented employees have ratified the modifications to the GM-UAW 2007 National Labor Agreement. The amended agreement covers approximately 54,000 hourly employees located in 46 U.S. facilities.

May 27, 2009

GM Exchange Offers for Outstanding Public Debt Expire

General Motors Corp. moved closer to bankruptcy today after it announced the failed deal with its bondholders to exchange their debt for equity in the company.

April 29, 2009

Auto/Mate Awarded GM Global Warranty Management Certification

Auto/Mate Dealership Systems, a GM IDMS vendor, was awarded General Motor’s Global Warranty Management (GWM) certification.