General Motors says it will start repaying the Canadian and U.S. governments for their loans. This comes on the news the company lost less money than expected in the third quarter.
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General Motors Co. says it lost US$1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters.
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Despite GM’s positive numbers, an economist believes it is not a sign that everything is getting back to normal with the company and until GM stops losing money, the auto giant will still be in trouble.
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GM says it’s in a position to start paying back bailout money, news that comes as a relief for many workers and their families. Galit Solomon reports.
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An auto industry expert from the Schulich School of Business discusses GM’s current financial status and what the company is trying to gain by reporting their loss despite the company emerging from bankruptcy protection.
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California Governor Arnold Schwarzzeneger has declared a state of emergency as wildfires near Santa Barbara continue to grow. More than 5400 homes are currently under mandatory evacuation. (May 7)
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Strong demand for the 2010 Chevrolet Equinox and GMC Terrain promted GM Canada’s investment into the CAMI plant in Ingersoll, Ont., which can be easily retooled to produce them.
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An auto industry analyst and professor at the Rotman School of management says the $100 million dollar investment GM will make in its Ingersoll plant is a good move on GM’s part.
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General Motors is pumping $90 million into expanding assembly lines in Ingersoll, Ont., and analysts say GM’s rise from the ashes should be encouraging for the entire industry.
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