Posts Tagged ‘general motors news’
General Motors to recall their laid-off employees
general-motorsAs per the United Auto Workers, General Motors will recall an additional 2,000 of its on unemployment workers by September. The UAW told The Detroit News that the majority number of the recalls will have an effect on southern Michigan, where the financial downturn and subsequent cutbacks have hit hardest. While the General hasn’t specified its timeline yet, UAW representatives state the workers will be back manufacturing auto vehicles by September. With laid-off workforce back at work, GM will be capable to start hiring again, even though the company didn’t provide a timeline for new employs. The recalls demonstrate that [...]

GM preparing to make official bond exchange offer
DETROIT — General Motors Corporation is preparing to launch a public bond-exchange offer to wipe out most of its $28 billion unsecured debt by June 1 to avoid bankruptcy. President Barack Obama gave the company 60 more days to get the concessions it needs. GM spokeswoman Julie Gibson said “We have a large pool of people we need to reach, and the only way to do that is through a public offering.” The company has thousands of bondholders who must soon decide whether to participate in an offer and ensure they get at least a small amount of their investment [...]

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