General Motors says US sales chief leaves following sharp drop in September salesDETROIT — Less than a week after reporting a sharp drop in September sales, GM said its U.S. sales chief is leaving as the automaker struggles to prop up its falling share of the market. General Motors says North American sales chief leaves following sharp drop in Sept. salesDETROIT — Less than a week after reporting a sharp drop in September sales, GM said its North American sales chief is leaving as the automaker struggles to prop up its falling share of the market. General Motors, once colossus of US capitalism, could become government-owned companyDETROIT — General Motors, once the colossus of American capitalism, will become a leaner, government-owned company if the Obama administration goes along with the automaker’s plan to slash jobs, close plants and eliminate the legendary Pontiac brand. GM schedules news conference to announce brand changes, restructuring movesDETROIT — General Motors will announce a restructuring plan at 9 a.m. EDT today. The storied Pontiac brand is dead and more car factories and jobs are about to disappear — the latest casualties of a plan that GM is counting on to help it stave off bankruptcy protection. The plan is being announced as GM makes an offer to its bondholders to swap debt for company stock. GM owes $28 billion to large and small bondholders, and under Securities and Exchange Commission rules, it must disclose its operational plans when it makes an exchange offer. |
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