GM stock has been delisted, dumped from the Dow, and is pretty much worthless. But with government backing, as they say, even pigs can fly. Indeed, just days after filing for bankruptcy, General Motors Corp
Could General Motors’ Stock Rise Again?
Tag Archives: general
WWII slave soldiers reunite after 64 years, prepare for honors
Samuel Fahrer and Sidney Lipson shake hands and smile. It’s the first time the men have seen each other in 64 years.
GM poised for bankruptcy, agrees European selloff
The future of thousands of car industry jobs in Europe remained uncertain Monday as General Motors prepared to file for bankruptcy after reaching a deal to sell off its European operations, including German automaker Opel and UK-based Vauxhall. GM will file a bankruptcy petition at 8 am ET (12 pm GMT), paving the way for a de facto government takeover, according to a source with direct knowledge of the bankruptcy proceedings.
Myanmar junta justifies Suu Kyi detention
The trial of Aung San Suu Kyi has been postponed until Friday while the country’s military junta once again justified — albeit indirectly — its detention of the opposition leader. Without mentioning Suu Kyi by name, a full-page article in the New Light of Myanmar newspaper on Saturday laid out the penalty for someone running afoul of the state’s subversion laws — under which the pro-democracy advocate is being tried. “The restrictions can be extended up to a total of five years with the prior approval of the government in accordance with the law,” the article said
Fiat pulls out of Opel takeover talks
The future of Opel remained uncertain Friday after Italian car giant Fiat withdrew from talks in Berlin due to concerns over emergency funding demanded by the German government for the ailing automaker. Fiat had been one of two potential bidders, along with Canadian-Austrian supplier Magna, still in the running to take over Opel, which is currently owned by General Motors. Fiat said in a statement Friday it remained interested in taking control of Opel but said the German government’s demand for the potential suitors to provide $417 million in short-term funding would expose Fiat to “unnecessary and unwarranted risks.” “Fiat remains open and committed to continue discussions with all parties involved with a view to find a stable and lasting solution for the industrial activities of Opel,” Fiat said
Pakistan army spokesman fights media war
The office of Maj. Gen.
Germany considers carmaker Opel’s future
The German government plans to meet Wednesday night to discuss the future of carmaker Opel and weigh bids for the General Motors subsidiary. A spokesman for the German chancellor’s office said he did not expect a final decision on Opel to be made Wednesday. “It’s just to check the offers of the investors, then to see how we can go on,” said the spokesman, who declined to be named
Church of Scotland endorses gay minister’s appointment
A gay minister at the center of a row about his appointment to a church in a Scottish city said he was "humbled" after the Church of Scotland upheld his appointment. In a ground-breaking move, the Church’s ruling body voted by 326 to 267 in support of the Reverend Scott Rennie, the British Press Association reported Sunday.
Women win parliamentary seats for first time in Kuwait
Kuwait elected its first female lawmakers in the conservative Gulf state where men have dominated parliament for nearly five decades. Four women won parliamentary seats in the general elections Saturday, the official Kuwait News Agency said
Why the Pentagon Axed Its Afghan Warlord
Public beheadings in Afghanistan are usually associated with the Taliban, but on Monday it was Defense Secretary Robert Gates metaphorically wielding the axe from the Pentagon platform. Gates announced that he had asked for and requested the resignation of his top commander in Afghanistan, Army General David McKiernan, after only 11 months in that theater. The 37-year veteran will be replaced by Army Lieutenant General Stanley McChrystal