Tuesday, November 10, 2009

General Motors

General Motors.svg

General Motors Company, also known as simply GM, is a United States based automaker with headquarters in Detroit, Michigan.http://blog.cleveland.com/business/2008/11/large_General-Motors-losses.jpg

GM was the world's 18th largest corporate entity and third largest automaker as ranked by 2008 revenues on the Fortune Global 500. Ranked by global unit sales for 2008, it was the world's second largest automaker. GM manufactures cars and trucks in 34 countries, recently employed 244,500 people around the world, and sells and services vehicles in some 140 countries.

On July 10, 2009 GM emerged from a Chapter 11 bankruptcy reorganization and is now majority owned by the United States Treasury and Canadian governments, with the US government investing a total of $57.6 billion under the Troubled Asset Relief Program.

While no GM shares are currently available to the public, the company plans an initial public stock offering (IPO) in 2010.

GM plans to focus its business on its four core US brands — Chevrolet, Cadillac, Buick, and GMC. In Europe, following a period of negotiation to sell a majority stake in its Opel and Vauxhall brands, GM decided to retain full ownership of these operations.'


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