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General Motors

Facts about General Motors

Cody Clay

on 27 May 2011

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Transcript of General Motors

General Motors It all started when William C. Durant and his partner Josiah Dort, found General Motors September 16th, 1908. The GM headquarters are in Detroit, Michigan. GM is the world's second largest auto-maker after Toyota. Strong in sales globally, with sales of 7.5 million vehicles and revenue of $104.6 billion in 2009. More than 73% of GM sales are outside of the U.S. GM does business in more than 120 countries. GM employs 209,000 people globally. U.S. employment is 79,000 : 26,000 salaried and 53,000 hourly. Globally : there are 158 assembly and manufacturing facilities (71 of them are assembly facilities). About 4,500 U.S. dealerships, the largest dealer network in the U.S. Globally, GM has more than 21,000 dealers. General Motors was the first American company (in the modern era) to release an all-electric automobile. GM is the leader in E85 flex fuel vehicles, which is over 3 million FlexFuel vehicles on the road in the U.S. GM was named automotive innovation leader. In the U.S., GM markets through four brands: Chevrolet, Buick, GMC, and Cadillac. Outside the U.S., GM markets are primarily under the following brands: Buick, Cadillac, Chevrolet, Daewoo, GMC, Holden, Isuzu, Opel, and Vauxhall. In China, GM and its partners also market under the Baojun, FAW, Jiefang, and Wuling brands Stakes in major joint ventures include SAIC-GM (49 %), SAIC-GM-Wuling (34%), FAW-GM (50%) and GM-Daewoo (70.1%) GM�'s bankruptcy filing was expected to be at 8 AM EDT in NY Southern District in Manhattan. On July 10, 2009, with financing partially provided by the US Government, the company emerged from reorganization and was listed on major stock exchanges on November 18, 2010 with the world's largest IPO. General Motors sold 6.5 million cars and trucks globally. On February 24, 2011, General Motors reported its first full-year profit since 2004. The Wall Street Journal estimated the tax break, including credits for costs related to pensions and other expenses can be worth as much as $45 billion over the next 20 years. On July 23, 2009, GM announced its new Board of Directors: Dan Akerson, David Bonderman, Robert D. Krebs, Patricia F. Russo and Ed Whitacre (GM Chairman and Interim Chief Executive Officer). Board members who are not GM employees will be paid US$200,000 annually. On February 24, 2011, General Motors reported its first full-year profit since 2004. It can carry forward previous losses to reduce tax liability on future earnings. It earned $4.7 billion in 2010. American corporation that became the world’s largest motor-vehicle manufacturer in 1931 and maintained that status until 2008, when it was surpassed by Toyota Motor Corporation . Dec. 8, 1861, Boston March 18, 1947 New York City American industrialist and founder of General Motors Corporation , which later became one of the largest corporations in the world in terms of sales.
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