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BUSINESS
March 14, 2006
General Motors Corp. said it would offer buyers as much as $1,000 per vehicle on older cars and trucks in U.S. dealer inventories.
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BUSINESS
March 17, 2014 | By E. Scott Reckard
California victims of alleged foreclosure abuses will get $268 million in relief from a $2.1-billion national settlement with Ocwen Financial Corp., the nation's largest non-bank provider of mortgage customer service. Ocwen broke state law by improperly denying loan modifications, failing to honor modifications granted by prior servicers and charging unauthorized fees, according to the California Department of Business Oversight. "Californians should not lose their homes because of deceptive and poorly executed mortgage servicing practices," Commissioner of Business Oversight Jan Lynn Owen said Monday in a news release.
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BUSINESS
June 28, 2000
* General Motors Corp. will close its Mesa, Ariz., proving ground by the end of 2002 and build a new one in central Mexico, where the world's largest auto maker can test vehicles in hotter weather during the winter. GM will offer transfers, separation buyouts or early retirements to its 400 employees at the Mesa center and phase out about 600 contract jobs.
BUSINESS
April 24, 2010 | Marc Lifsher, Los Angeles Times
A state agency that hands out training funds rejected a $2-million reimbursement request Friday from what was California's last auto manufacturing plant, the New United Motors Manufacturing Inc. Scarce state funds would be better spent on sharpening the skills of workers at companies that are still doing business and creating new jobs here, six members of the California Employment Training Panel said in a statement before voting unanimously to...
BUSINESS
October 4, 1994 | From Times Staff and Wire Reports
5 GM Assembly Plants Hobbled: Work has resumed at the Buick City complex, where 11,500 employees ended a four-day strike Saturday by approving a deal under which General Motors Corp. will hire several hundred new workers. But the interruption in parts shipments from Flint, Mich., continued to hamstring some GM operations, and five assembly plants were shut down.
NATIONAL
January 20, 2008 | From Times Wire Reports
General Motors' chief executive says that the sales network isn't shrinking fast enough and that the automaker wants to step up dealer consolidations. Rick Wagoner says GM aims to combine Pontiac, Buick and GMC dealerships, the Detroit News reported. General Motors Corp. reduced its dealer network by about 7%, to 14,118, from 2005 to 2007.
BUSINESS
October 28, 2009 | Times Staff and Wire Reports
Luxury automaker Fisker Automotive Inc. of Irvine has agreed to buy a closed General Motors assembly plant in Delaware to produce plug-in hybrid electric cars, the company said. Fisker has signed a letter of intent with Motors Liquidation Co., formerly known as General Motors Corp., to buy the Wilmington, Del., plant for $18 million.
BUSINESS
September 22, 2009 | Associated Press
NEW YORK -- Dell Inc. said today it has agreed to buy the information technology services company Perot Systems Corp. for about $3.9 billion as it looks to expand beyond the personal computer business. Round Rock, Texas-based Dell said it will offer $30 per share in cash for Perot, which is based in Plano, Texas. That represents a 68 percent premium over Perot's closing share price Friday, and Perot shares shot up almost 66 percent in premarket trading Monday. Dell said Perot, founded by former presidential candidate Ross Perot, will expand the company's IT services offerings for businesses and widen the pool of potential customers for its computers.
BUSINESS
August 12, 2009 | Martin Zimmerman
WARREN, Mich. -- General Motors Corp. said today its Chevrolet Volt rechargeable electric car should get 230 miles per gallon of gasoline in city driving, more than four times the mileage of the current champion, the Toyota Prius. The Volt is powered by an electric motor and a battery pack with a 40-mile range. After that, a small internal combustion engine kicks in to generate electricity for a total range of 300 miles. The battery pack can be recharged from a standard home outlet.
BUSINESS
August 10, 2009 | Bloomberg
Publicis Groupe, owner of ad firm Saatchi & Saatchi, said it is buying Microsoft Corp.'s Razorfish advertising agency for $530 million in cash and stock to expand in Internet advertising. Razorfish will continue to operate under its own name and Microsoft will continue using the agency for online advertising and marketing, the companies said in a joint statement. In buying Razorfish, Publicis expands its digital-ad business as demand slows for traditional print and television campaigns.
BUSINESS
May 23, 2009 | Associated Press
General Motors Corp. said Friday that it had borrowed an additional $4 billion from the Treasury Department, meaning the automaker has now accepted $19.4 billion in loans from the U.S. government. GM started taking government money in December and said it intended to borrow $2.6 billion more by June 1 and an additional $9 billion after that. But in a regulatory filing Friday, GM said it needed $1.4 billion sooner than originally forecast.
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