GM's Wagoner: Send Help... Please

Speaking with CNBC » 11/07/08 3:20pm 11/07/08 3:20pm's Phil LeBeau, who has spent today to more distressed people than Dr. Phil, GM CEO Rick Wagoner outlined how for the troubled automaker, and mentioned the "domino effect" losing GM would have on the economy ( as an aside, the claims 6.5 indirect jobs for each OEM job — whether that's supplier jobs…

GM-Chrysler Merger Talks Suspended, Hummer And AC Delco Still For Sale

All the buzz over a potential Chrysler and GM merger » 11/07/08 12:30pm 11/07/08 12:30pm may be for naught as GM announced today that they've suspended talks in order to refocus on their business. Though GM claims it would have liked to try the merger, the lack of government help (seeing a trend here?) means it isn't possible at this time. Instead, GM…

GM Declares Bankruptcy Imminent After $4.2 Billion Third Quarter Loss

GM today announced a third-quarter loss of $4.2 billion (adjusted, $2.5 billion reported) on revenues of $37 billion while spending $6.9 billion of their lifeblood-like cash on hand. Although initially we thought the big news here was a cash spend of $2.3 billion per month, compared to around $1.1 billion a month in… » 11/07/08 11:40am 11/07/08 11:40am