Key Developments: General Motors Co (GM)

GM on New York Consolidated

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20 Apr 2015
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Latest Key Developments (Source: Significant Developments)

General Motors Co increases dividend on common stock
Monday, 13 Apr 2015 05:00pm EDT 

General Motors Co:Declares second quarter 2015 dividend of 36 cents per share on common stock, an increase of 20 pct from the 30-cent quarterly dividend paid since the first quarter of 2014.Payable on June 23, of record as of June 10.  Full Article

Toll from faulty General Motors ignition switches rises to 77 deaths, 141 injuries - AP
Sunday, 29 Mar 2015 08:00pm EDT 

General Motors Co:Families of at least 77 people killed in crashes caused by defective General Motors ignition switches will get compensation from the company - The Associated Press.An additional 141 injured people also are eligible for compensation.The fund received a total of 4,342 claims by the Jan. 31 deadline.Of those, 1,263 are still under review.  Full Article

General Motors announced changes in business model in Russia - form 8-K
Wednesday, 18 Mar 2015 01:43pm EDT 

General Motors Company:Decided to change business model in Russia and expected to record net special charges of about $600 million primarily in Q1 2015.Special charges consist of sales incentive charges, dealer restructuring costs, contract cancellation charges and severance-related costs.About $200 million of net special charges will be non-cash expenses.  Full Article

General Motors Co recalls about 64,000 Chevrolet Volt hybrids - Reuters
Thursday, 12 Mar 2015 05:16pm EDT 

General Motors Co:Is recalling about 64,000 Chevrolet Volt hybrid electric cars for a software update to prevent carbon monoxide buildup when a driver forgets to shut off the vehicle - Reuters.Is aware of two injuries related to the issue.Is recalling cars from the 2011-2013 model years for a software update to limit how long the car can be left idling.The company also told dealers to halt deliveries of about 2,300 Chevrolet Trax and Buick Encore small crossovers from model year 2015 for a pending safety recall to fix a potential loss of electric power steering.  Full Article

General Motors Co authorizes initial $5 bln share repurchase program
Monday, 9 Mar 2015 07:30am EDT 

General Motors Co:Says Board authorized the initial repurchase of $5 bln in GM shares to begin immediately and conclude before the end of 2016.  Full Article

General Motors Co reaffirms FY 2015 EBIT outlook
Monday, 9 Mar 2015 07:30am EDT 

General Motors Co:Reaffirmed that in FY 2015 it expects total EBIT adjusted and EBIT-adjusted margin to increase, compared to FY 2014, after adjusting 2014 for the impact of recall costs.Reported EBIT of $6.49 bln in FY 2014.FY 2015 EBIT of $9.05 bln - Thomson Reuters I/B/E/S.  Full Article

General Motors Co's Cadillac recalls about 67,000 ATS cars to fix hair-trigger sunroof controls - AP
Monday, 23 Feb 2015 07:00pm EST 

General Motors Co:Is recalling about 67,000 Cadillac ATS compact sports sedans to fix a problem with the power sunroof controls - The Associated Press.The recall affects cars from the 2013 through 2015 model years.GM says the sunroofs can automatically close if the non-recessed switches are even partly touched.The recall is being done because the switches can be activated with less force than allowed under federal safety standards.GM found the problem in testing a 2016 model in January.The company says it knows of no crashes or injuries.Repairs were made at the factory and dealers have been told to stop selling cars on their lots until they are fixed.Dealers will replace a switch trim plate to fix the cars, which mainly were sold in the U.S. and Canada.  Full Article

Volvo AB in talks with General Motors India to assemble cars in India-Business Standard
Monday, 23 Feb 2015 12:55am EST 

General Motors:Volvo AB is in talks with Mahindra & Mahindra Ltd (M&M), Hindustan Motors Ltd (HM) and General Motors (GM) India to explore the feasibility of utilising one of their facilities to locally assemble its vehicles in India-Business Standard.  Full Article

Strike at Brazil plant catches General Motors off guard - Reuters
Friday, 20 Feb 2015 03:09pm EST 

General Motors Co:Was caught by surprise on Feb. 20 by a strike at its Brazilian car factory as workers protested a planned furlough and layoff of hundreds of staff - Reuters.The company said in an email it had asked a labor judge to mediate the dispute and that a hearing had been set for Feb. 23 afternoon.The local metalworkers union said workers had voted for an indefinite strike, bringing production to a standstill, to protest GM's proposal to furlough nearly 800 workers for two months before laying them off in April.  Full Article

General Motors Co gets 75 more claims for faulty ignition switch compensation - Reuters
Monday, 16 Feb 2015 10:46am EST 

General Motors Co:Has received 75 claims for compensation for ignition switch defects in its cars last week, bringing the total to 4,312, according to the official administering the compensation program - Reuters.GM had received 478 claims for death, 288 for catastrophic injuries and 3,546 for less-serious injuries requiring hospitalization.The number of claims found eligible for compensation rose to 143 from 131 last week.The company's compensation program has so far determined that 56 deaths, nine severe injuries and 78 other injuries were eligible for payment, according to the report from lawyer Kenneth Feinberg, hired by GM to administer the program.The report said 513 claims had been deemed ineligible, while 1,388 were under review.Another 1,198 claims had no documentation at all.  Full Article

BMW China plans to put WeChat in cars without relying on Tencent

SHANGHAI, April 21 - BMW AG is working to integrate Tencent Holdings' popular WeChat messaging app into its cars in China and is planning to do it in a way that would not require the Internet giant to make changes to its software, its China R&D chief said.

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