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A Primer on the New General Motors
Friday, July 10, 2009 at 4:31 pm
Tags: politics, economy, general motors
Channel: New York Times
Author: MICHELINE MAYNARD
With GM emerging from bankruptcy today, I found this "primer" helpful in understanding the new "Obama Motors."
General Motors closed the sale of its best assets to a new company primarily owned by the American government on Friday, starting a new era in its 101-year history. Here are the answers to some frequently asked questions.
Q: What is the new General Motors called?
A: Its formal name is the General Motors Company.
Q: Who owns the new G.M.?
A: The majority owners of the new G.M. are the American and Canadian governments, which hold 72.5 percent. A union health care trust called a Voluntary Employee Beneficiary Association, or VEBA, holds 17.5 percent, and 10 percent is held by the old G.M.
Q: Which brands will the new G.M. sell?
A: G.M. plans to keep Buick, Cadillac, Chevrolet and G.M.C. It is shedding Saturn, Hummer, Saab and Pontiac.
Go to the originating news channel for this excerpt to read the full article >> General Motors closed the sale of its best assets to a new company primarily owned by the American government on Friday, starting a new era in its 101-year history. Here are the answers to some frequently asked questions.
Q: What is the new General Motors called?
A: Its formal name is the General Motors Company.
Q: Who owns the new G.M.?
A: The majority owners of the new G.M. are the American and Canadian governments, which hold 72.5 percent. A union health care trust called a Voluntary Employee Beneficiary Association, or VEBA, holds 17.5 percent, and 10 percent is held by the old G.M.
Q: Which brands will the new G.M. sell?
A: G.M. plans to keep Buick, Cadillac, Chevrolet and G.M.C. It is shedding Saturn, Hummer, Saab and Pontiac.
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