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The final direct cost to the Treasury of the GM bailout was $11-12 billion ($10.5 billion for General Motors and $1.5 billion for former GM financing GMAC, now known as Ally). Local tax incentives amounted to $1.7 billion, most of them in Michigan.
Motors Liquidation Company ( MLC ), formerly General Motors Corporation, was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to ...
On February 18, 2009, General Motors and Chrysler again approached the U.S. government, in regard to obtaining a second bridging loan of $21.6 billion (£15.2 billion). $16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models.
The General Motors ignition switch recalls refers to February 6, 2014 when General Motors recalled about 800,000 of its small cars due to faulty ignition switches, which could shut off the engine while the vehicle was in motion and thereby prevent the airbags from inflating. [1] The company continued to recall more of its cars over the next ...
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Google Maps. CarShield, a company that sells vehicle service contracts to automobile owners that it claims will cover the cost of certain repairs, has agreed to pay $10 million in a settlement ...
The GM Instrument Cluster Settlement was a 2008 class action settlement awarded to owners of certain General Motors vehicles with allegedly defective speedometers. The settlement allows the owner or lessee to get their instrument cluster replaced under the terms of a special coverage adjustment to their factory standard warranty .
July 17, 2024 at 12:24 PM. Cadillac. DETROIT — General Motors will increase production of its Cadillac Escalade V-Series performance model as part of updates to the flagship SUV for the 2025 ...