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May 15, 2014
08:35 EDTGMGM announces five safety recalls covering 2.7M vehicles
General Motors announced it has informed the National Highway Traffic Safety Administration of five safety recalls covering about 2.7M vehicles in the United States. The recalls cover about 2.44M previous generation passenger cars for taillamp malfunctions, about 103K previous generation Chevrolet Corvettes for loss of low-beam head lamps, about 140K Chevrolet Malibus from the 2014 model year for hydraulic brake booster malfunctions, about 19K Cadillac CTS 2013-2014 models for windshield wiper failures, and 477 full-size trucks from the 2014 and 2015 model years for a tie-rod defect that can lead to a crash. The largest recall involves 2004-2012 Chevrolet Malibu, 2004-2007 Chevrolet Malibu Maxx, 2005-2010 Pontiac G6 and 2007-2010 Saturn Auras model cars in U.S. to modify the brake lamp wiring harness. GM is aware of several hundred complaints, 13 crashes and two injuries but no fatalities as a result of the condition. The company issued a technical service bulletin in 2008 and conducted a safety campaign for a small population of 2005 model year vehicles in January 2009. GM expects to take a charge of up to approximately $200M in the second quarter, primarily for the cost of recall-related repairs announced in the quarter.
News For GM From The Last 14 Days
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November 23, 2015
06:24 EDTGMGM uses KBB to offer targeted incentives, Automotive News reports
General Motors has turned to Kelley Blue Book's website to offer targeted incentives to customers, Automotive News reports. Reference Link
November 22, 2015
18:46 EDTGMUAW union ratifies General Motors agreement
The United Auto Workers announced that its international executive board has formally ratified the national labor agreement with General Motors. The union explained that, after its proposed agreement with GM was blocked by the union's skilled trades members, it held meetings with those members and subsequently presented their concerns to both union leadership and GM itself. Following those discussions, the parties agreed to changes that "protect core trades classifications and seniority rights," according to UAW. Reference Link
November 19, 2015
07:55 EDTGMGM's Reuss: Company 'deeply committed' to EVs, FT says
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November 18, 2015
09:32 EDTGMThe House Oversight & Government Reform Committee to hold a hearing
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07:57 EDTGMBarclays to hold a conference
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November 16, 2015
09:59 EDTGMOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
07:36 EDTGMBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).
November 15, 2015
17:25 EDTGMUAW union in talks with General Motors regarding proposed agreement
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