General Motors
On November 7, 2008, General Motors posted a $4.2 billion loss for the third quarter of 2008. The company said it had used $6.9 billion in cash, and reports suggested the automaker might run out of money in the months that followed.1
General Motors is a multinational automotive corporation based in the United States. It is the biggest automaker worldwide and operates in 33 countries.2 Its many brands include Chevrolet, Cadillac, Hummer, Saturn and Saab.
Fast Facts
- Stock symbol: GM (NYSE)
- Annual revenue (2007): $181 billion
- Founder: William C. Durant
- Established: 1908
- Industry: Automotive manufacturing and distribution
- Phone: 313-556-5000
- Fax: 313-556-5108
- HQ: Detroit, Michigan
- CEO: Rick Wagoner
- CFO: Ray Young
- Staff (as of 2007): 284,000
Key Dates
- September 16, 1908: Founded by William C. Durant in Flint, Michigan, as a holding company for Buick
- 1909: Durant acquires numerous auto companies, including Cadillac and Oldsmobile
- 1910: Durant loses control of company due to large debts
- 1961: Does away with clear performance distinctions between its different brand names
- 2001: Starts the Keep America Rolling campaign in the wake of the 9/11 terrorist attacks, kickstarting other manufacturers to boost sales
- December 31, 2007: Operates over 8,000 dealerships in North America, and over 14,000 worldwide
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