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News Breaks
July 28, 2014
06:07 EDTGMNHTSA closes GM defect petition review
The NHTSA is closing a petition review of 248,000 2007-2009 Saturn Outlook and GMC Acadia 248,453 after a complaint of loss of low beam headlamp function due to an overheated bulb connector. NHTSA said out of a population of 248,453 subject vehicles, NHTSA received 473 consumer complaints of inoperative head lamp. Many of these complaints indicated that the head lamp harness suffered damage from overheating. After reviewing the complaints, NHTSA said it didn't find a defect. "Over the last 25 years, ODI has opened numerous defect investigations of the loss of headlamp illumination. Investigations that resulted in safety recalls involved simultaneous loss of illumination from both headlamps. NHTSA does not consider the loss of a single headlamp as presenting an unreasonable safety risk-such failures are readily detectable by the driver while allowing the vehicle to retain forward visibility and conspicuity from the remaining headlamp. There is typically enough time between the failure of the first headlamp and the second during which the vehicle operator can obtain the needed repairs. Based on the information currently available, NHTSA does not believe that the headlamp condition as alleged by the petitioner indicates the likelihood of a safety-related defect that would warrant a formal investigation. Therefore, in view of the need to allocate and prioritize NHTSA's limited resources to best accomplish the agency's safety mission, the petition is denied." Reference Link
News For GM From The Last 14 Days
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October 22, 2014
10:05 EDTGMKyle Bass says General Motors still largest position
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06:24 EDTGMNHTSA says over 6M cars involved in Takata airbag recalls
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October 21, 2014
12:08 EDTGMGeneral Motors says supports Michigan House Bill 5606
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10:13 EDTGMGeneral Motors volatility elevated into Q3 and outlook
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10:00 EDTGMOn The Fly: Analyst Initiation Summary
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06:26 EDTGMGeneral Motors initiated with a Neutral at Susquehanna
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October 20, 2014
11:53 EDTGMDeaths tied to faulty GM ignition-switch increases to 29, Reuters says
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08:22 EDTGMCourt rules GM loan docs valid despite mistake, Reuters reports
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October 17, 2014
18:10 EDTGMGeneral Motors General Counsel Michael Millikin to retire in early 2015
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16:31 EDTGMGeneral Motors announces $12.5B revolving credit facility
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October 16, 2014
12:04 EDTGMStocks with call strike movement; ABBV GM
AbbVie (ABBV) January 60 call option implied volatility decreased 5% to 29, General Motors (GM) March 33 call option implied volatility decreased 4% to 39 according to IVolatility.
06:34 EDTGMChina to punish automakers that miss fuel standards, Reuters reports
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October 15, 2014
13:27 EDTGMGM faces $10B suit due to recalls, Bloomberg says
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10:16 EDTGMGeneral Motors reports Q3 worldwide sales up 2% to 2.45M units
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October 14, 2014
10:01 EDTGMOn The Fly: Analyst Downgrade Summary
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06:20 EDTGMGeneral Motors downgraded to Buy from Conviction Buy at Goldman
Goldman removed General Motors from the Conviction Buy List and lowered estimates to to cuts in North American and European production and a difficult pricing environment. The firm maintains its Buy rating and views risk/reward as favorable and expects reasonably strong comps over then next two quarters. Price target lowered to $47 from $48.
October 13, 2014
12:10 EDTGMGM lawyer says 27 people eligible for ignition switch compensation, AP reports
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06:44 EDTGMRegulators seeking banks' auto loan data, Reuters reports
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October 12, 2014
17:21 EDTGMTesla ahead of other car makers on semiautonomous driving system, WSJ says
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October 10, 2014
06:12 EDTGMGeneral Motors reports September China sales up 15.2% to 319,936
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