Company Overview
General Motors Company manufactures and distributes motor vehicles. The company offers cars and trucks. General Motors Company markets its products under Chevrolet, Cadillac, Buick, GM Daewoo, Holden, Opel, Vauxhall, Wuling, and GMC brand names. The company was formerly known as NGMCO, Inc. and changed its name to General Motors Company in July 2009. General Motors Company is based in Detroit, Michigan. General Motors Company operates as a subsidiary of United States Department of The Treasury.
P.O. Box 33170
Detroit, MI 48232-5170
United States
Key Executives
Key developments for General Motors Company
General Motors Company reported unaudited consolidated earnings results for the third quarter ended September 30, 2009. For the quarter, the company reported managerial net loss attributable to common shareholders of $1,297 million on total net sales and revenue of $26,352 million compared to managerial net loss attributable to common shareholders of $2,552 million on total net sales and revenue of $37,808 million for the same quarter a year ago. Operating loss was $1,049 million compared to $883 million for the same quarter a year ago. Loss before income taxes and equity income was $1,071 million compared to $2,592 million for the same quarter a year ago. The company reported managerial operating cash flow was $3.3 billion.
General Motors Company will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount by 2011, four years ahead of schedule. Under the plan to pay back the $6.7 billion, the company will make quarterly payments of $1 billion to the U.S. government and $200 million to the Canadian government beginning in late 2009. GM would be on track to pay off the $6.7 billion U.S. debt and a $1.4 billion debt to Canada by the middle of 2011, well ahead of a mid-2015 deadline to repay the two governments.
General Motors Company wants to move its European headquarters to Germany from Switzerland before the end of the year. By moving its headquarters from Zurich to Adam Opel GmbH's Ruesselsheim headquarters in Germany, the company wants to strengthen its subsidiary Opel. GM's Chevrolet brand will continue to keep its headquarters in Zurich. Between 200 and 250 employees worked at headquarters in Zurich.
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Recent Private Companies Transactions
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Target |
|
Merger/Acquisition
November 2, 2009 |
Delphi Automotive LLP |
|
Merger/Acquisition
August 10, 2009 |
General Motors Corporation, Powertrain Plant |
|
Merger/Acquisition
June 1, 2009 |
Motors Liquidation Company, Substantially All Assets |
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