The General Motors Company (GM) is an American multinational automotive manufacturing company headquartered in Detroit,Michigan,United States. By sales,it was the largest automaker in the United States in 2022,and was the largest in the world for 77 years before losing the top spot to Toyota in 2008.
Hummer is a brand of pickups and SUVs that was first marketed in 1992 when AM General began selling a civilian version of the M998 Humvee. Although discontinued in 2010,Hummer returned as a sub-brand of GMC in 2020. In 1998,General Motors (GM) purchased the brand name from AM General and marketed three vehicles:the original Hummer H1,based on the military Humvee,as well as the new H2 and H3 models that were based on smaller,civilian-market GM platforms.
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies,business organizations,or their operating units are transferred to or consolidated with another company or business organization. As an aspect of strategic management,M&A can allow enterprises to grow or downsize,and change the nature of their business or competitive position.
A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money (leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loans,along with the assets of the acquiring company. The use of debt,which normally has a lower cost of capital than equity,serves to reduce the overall cost of financing the acquisition. The cost of debt is lower because interest payments often reduce corporate income tax liability,whereas dividend payments normally do not. This reduced cost of financing allows greater gains to accrue to the equity,and,as a result,the debt serves as a lever to increase the returns to the equity.
AM General is an American heavy vehicle and contract automotive manufacturer based in South Bend,Indiana. It is best known for the civilian Hummer and the military Humvee that are assembled in Mishawaka,Indiana. For a relatively brief period,1974–1979,the company also manufactured transit buses,making more than 5,400 of them.
GMC is a division of American automotive manufacturer General Motors (GM) for trucks and utility vehicles. GMC currently makes SUVs,pickup trucks,vans,and light-duty trucks. In the past,GMC also produced fire trucks,ambulances,heavy-duty trucks,military vehicles,motorhomes,transit buses,and medium duty trucks.
The Hummer H1 is a four-wheel-drive utility vehicle based on the M998 Humvee,which was developed by AM General when it was a subsidiary of American Motors Corporation (AMC). Originally designed strictly for military use,the off-road vehicle was released to the civilian market.
China FAW Group Corp.,Ltd. is a Chinese state-owned automobile manufacturer headquartered in Changchun,Jilin. Founded in 1953,it is currently the second largest of the "Big Four" state-owned car manufacturers of China,together with SAIC Motor,Dongfeng Motor Corporation and Changan Automobile.
General Motors Europe was the European subsidiary of the American automaker General Motors ("GM"). The subsidiary was established by GM in 1986 and operated 14 production and assembly facilities in 9 countries,and employed around 54,500 people. GM's core European brands were Vauxhall and Opel,which both sell much the same range of cars in different markets. GM also owned the Swedish brand Saab until early 2010 and sold Chevrolet models between 2005 and 2015. The U.S. brand Cadillac is imported into Europe in small quantities. In 2009,General Motors (GM) announced to move its European headquarters from Zürich,Switzerland to Rüsselsheim,Germany to strengthen its German subsidiary Opel.
Jerome Bailey York,commonly known as Jerry York,was an American businessman,and the chairman,president and CEO of Harwinton Capital. He was the former CFO of IBM and Chrysler,and was CEO of Micro Warehouse. He was a chief aide to Kirk Kerkorian and his Tracinda investment company. In February 2006,Kerkorian helped elect York to the board of directors of General Motors,from which he had previously resigned.
General Motors Financial Company,Inc. is the financial services arm of General Motors. The company is a global provider of auto finance,with operations in the United States,Latin America,Canada,Europe,and China. The company is headquartered in Fort Worth,Texas,where it is downtown Fort Worth's largest employer.
In finance,the private-equity secondary market refers to the buying and selling of pre-existing investor commitments to private-equity and other alternative investment funds. Given the absence of established trading markets for these interests,the transfer of interests in private-equity funds as well as hedge funds can be more complex and labor-intensive.
A big boy letter is a pre-sale agreement in connection with a private sale of securities not to sue over non-disclosure of material inside information that is not disclosed,entered into between two sophisticated parties. Big boy provisions may also be contained within securities purchase agreements,rather than being the subject of a separate letter agreement. Generally,a seller's request that a buyer agree to a big boy letter is a signal to the sophisticated buyer that there is likely to be material non-public information that exists concerning a security,which could give rise to a lawsuit brought by the buyer if it was not disclosed,in the absence of the letter.
General Motors India Private Limited was a subsidiary of General Motors for its operations in India. General Motors had 93% stake in this partnership and the remaining 7% was held by SAIC. It was the 5th largest automobile manufacturing company in India after Maruti Suzuki,Hyundai,Tata Motors and Mahindra. After 21 years of operations in India,General Motors ceased selling cars in India by the end of 2017 as a part of its global restructuring actions.
Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry,two distinct sub-industries,leveraged buyouts and venture capital expanded along parallel and interrelated tracks.
The 2008–2010 automotive industry crisis formed part of the 2007–2008 financial crisis and the resulting Great Recession. The crisis affected European and Asian automobile manufacturers,but it was primarily felt in the American automobile manufacturing industry. The downturn also affected Canada by virtue of the Automotive Products Trade Agreement.
Events in the year 2009 in China.
Beginning in the later half of 2008,a global-scale recession adversely affected the economy of the United States. A combination of several years of declining automobile sales and scarce availability of credit led to a more widespread crisis in the United States auto industry in the years of 2008 and 2009.
The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11,Title 11,United States Code in the United States bankruptcy court for the Southern District of New York. The United States government-endorsed sale enabled the NGMCO Inc. to purchase the continuing operational assets of the old GM. Normal operations,including employee compensation,warranties,and other customer services were uninterrupted during the bankruptcy proceedings. Operations outside of the United States were not included in the court filing.
Motors Liquidation Company (MLC),formerly General Motors Corporation,was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31,2011,only to be carved into four trusts;the first to settle the claims of unsecured creditors,the second to handle environmental response for MLC's remaining assets,a third to handle present and future asbestos-related claims,and a fourth for litigation claims.
