NEW YORK (AP) — General Motors Corp. said Tuesday that it has tentatively agreed to sell its Hummer brand, a day after the U.S. automaker filed for bankruptcy protection with hopes that it will transform its most profitable assets into a new company within just 30 days. The Detroit-based company did not name the proposed buyer or the price, but said the sale will likely save more than 3,000 U.S. jobs in manufacturing, engineering and at...
Read MoreWhat will happen with GM after Chapter 11
While Monday will be seen by many as “the day General Motors went bankrupt,” the filing did not include most of the company’s massive operations that sprawl the globe. Not only did GM Canada dodge a filing, all of GM’s operations are expected to continue without interruption in Europe, Latin America, Africa and the Middle East, and Asia Pacific regions. Here’s a look at where the company is producing, selling...
Read MoreGovernment motors? General Motors?
NEW YORK (AP) — General Motors entered Chapter 11 bankruptcy protection Monday with a near-complete plan to quickly emerge and potentially become profitable again, having already nailed down deals with its union and bondholders and arranged to sell off some brands and most of its Opel operations in Europe. GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said...
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