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The head of GM Europe has said he hopes German carmaker Opel ...

(AFP) — Sat, 04 Jul 2009 13:33:00 GMT

(AFP) - The head of GM Europe has said he hopes German carmaker Opel will be bought by Magna by mid-July adding that the Canadian firm has a 'considerable lead' on other possible buyers, a report said Photo:Clemens Bilan/AFP

A scientist points to a seismograph. An earthquake measuring ...

(AFP) — Fri, 03 Jul 2009 13:41:00 GMT

(AFP) - A scientist points to a seismograph. An earthquake measuring 6.0 in magnitude shook northwestern Mexico but caused no damage. Photo:Olivier Morin/AFP

A man walks into the US Bankruptcy Court in lower Manhattan ...

(AFP) — Thu, 02 Jul 2009 21:17:00 GMT

(AFP) - A man walks into the US Bankruptcy Court in lower Manhattan June 18 in New York City. General Motors heads into a critical bankruptcy hearing where it will seek permission to sell off most of its assets to a new company unburdened by old debts and supported by massive government loans. Photo:Chris Hondros/AFP

The fate of General Motors was placed in the hands of a New ...

(AFP) — Thu, 02 Jul 2009 21:17:00 GMT

(AFP) - The fate of General Motors was placed in the hands of a New York judge Thursday who must decide whether the largest US automaker can execute a swift exit from bankruptcy protection by selling its best assets to a new company. Photo:Patrick Hertzog/AFP

Fritz Henderson, Chief Executive Officer of General Motors Corp, ...

(Reuters) — Thu, 02 Jul 2009 19:42:00 GMT

(Reuters) - Fritz Henderson, Chief Executive Officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York July 1, 2009. REUTERS/Brendan McDermid

General Motors' lawyer Harvey Miller, of the law firm Weil, ...

(Reuters) — Thu, 02 Jul 2009 16:12:00 GMT

(Reuters) - General Motors' lawyer Harvey Miller, of the law firm Weil, Gotshal and Manges, arrives at the U.S. Bankruptcy Court in New York July 2, 2009. GM was in U.S. bankruptcy court in Manhattan on Thursday to seek approval from Judge Robert Gerber for a proposed sale of its best assets to a 'New GM' funded by the U.S. government. REUTERS/Brendan McDermid (UNITED STATES TRANSPORT BUSINESS)

The General Motors world headquarters in Detroit, Michigan. ...

(AFP) — Thu, 02 Jul 2009 09:14:00 GMT

(AFP) - The General Motors world headquarters in Detroit, Michigan. Automakers welcomed a 28 percent drop in US auto sales in June as a sign that the badly hit industry was stabilizing and expressed hope that a government-funded 'cash for clunkers' program would drive vehicle sales in July. Photo:Bill Pugliano/AFP

Sedans are lined up under the illuminated sign of the Pride ...

(The Canadian Press) — Wed, 01 Jul 2009 21:47:00 GMT

(The Canadian Press) - Sedans are lined up under the illuminated sign of the Pride Chevrolet dealership in Lynn, Mass., Monday June 29, 2009. A senior member of President Barack Obama's auto task force testified Wednesday that the U.S. government will not continue to fund General Motors Corp.'s operations if the automaker doesn't get approval to sell its assets to a new company within the next 10 days. THE ASSOCIATED PRESS/Charles Krupa

A sign hangs in the window of a General Motors dealership in ...

(AFP) — Wed, 01 Jul 2009 21:46:00 GMT

(AFP) - A sign hangs in the window of a General Motors dealership in Chicago. The US government will pull its support from General Motors if the automaker does not get court permission for a speedy exit from bankruptcy protection by July 10, an official testified on Wednesday. Photo:Scott Olson/AFP

Flags fly in front of General Motors world headquarters at the ...

(AFP) — Wed, 01 Jul 2009 21:46:00 GMT

(AFP) - Flags fly in front of General Motors world headquarters at the Renaissance Center in June 2009 in Detroit, Michigan. The US government will pull its support from General Motors if the automaker does not get court permission for a speedy exit from bankruptcy protection by July 10, an official testified on Wednesday. Photo:Michael Heiman/AFP

A bridge adourned with General Motors' logo in Baltimore, Maryland. ...

(AFP) — Wed, 01 Jul 2009 18:46:00 GMT

(AFP) - A bridge adourned with General Motors' logo in Baltimore, Maryland. General Motors posted a 34 percent drop in June sales Wednesday but said it had managed to increase its retail sales for the fourth consecutive month despite seeking bankruptcy protection. Photo:Chip Somodevilla/AFP

Fritz Henderson, Chief Executive Officer of General Motors Corp, ...

(Reuters) — Wed, 01 Jul 2009 18:20:00 GMT

(Reuters) - Fritz Henderson, Chief Executive Officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York July 1, 2009. REUTERS/Brendan McDermid (UNITED STATES TRANSPORT BUSINESS)

Fritz Henderson, chief executive officer of General Motors Corp, ...

(Reuters) — Wed, 01 Jul 2009 14:37:00 GMT

(Reuters) - Fritz Henderson, chief executive officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York June 30, 2009. REUTERS/Allison Joyce

Opel employees demonstrate in front of the GM-owned German carmaker ...

(AFP) — Wed, 01 Jul 2009 01:51:00 GMT

(AFP) - Opel employees demonstrate in front of the GM-owned German carmaker in Ruesselsheim, Germany. There has been widespread concern among many employees of major car-makers which are facing an uncertain future due to the economic downturn. Photo:Thomas Lohnes/AFP

General Motors Chief Executive Officer Fritz Henderson, pictured, ...

(AFP) — Wed, 01 Jul 2009 01:51:00 GMT

(AFP) - General Motors Chief Executive Officer Fritz Henderson, pictured, has been peppered with questions about the automaker's financial problems prior to bankruptcy, the government bailout and how the new company will be structured financially. Photo:Jim Watson/AFP

Street signage outside the New York Stock Exchange. Creditors ...

(AFP) — Wed, 01 Jul 2009 01:51:00 GMT

(AFP) - Street signage outside the New York Stock Exchange. Creditors holding bonds in US auto giant GM will swap 27.1 billion dollars in debt for a 10-percent stake and warrants allowing them to buy an additional 15-percent stake in the firm. Photo:Stan Honda/AFP

Amanda (L) and Kimberly Jones stand with a picture of Kimberly's ...

(Reuters) — Tue, 30 Jun 2009 15:38:00 GMT

(Reuters) - Amanda (L) and Kimberly Jones stand with a picture of Kimberly's husband, Mark Jones, in front of the U.S. Bankruptcy Court in New York June 30, 2009. Kimberly has a pending lawsuit against General Motors for a defective vehicle which caused the death of Mark Jones. General Motors filed for bankruptcy last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Legal counsellors and media wait to enter the U.S. Bankruptcy ...

(Reuters) — Tue, 30 Jun 2009 15:37:00 GMT

(Reuters) - Legal counsellors and media wait to enter the U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Jim Cummings, 71, protests outside the U.S. Bankruptcy Court ...

(Reuters) — Tue, 30 Jun 2009 15:34:00 GMT

(Reuters) - Jim Cummings, 71, protests outside the U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. The protesters, retired workers from Ohio and Mississippi, were concerned that when GM emerges from bankruptcy, they would not be required to pay pensions and health care. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS CONFLICT)

Protesters chant outside the U.S. Bankruptcy Court during the ...

(Reuters) — Tue, 30 Jun 2009 15:32:00 GMT

(Reuters) - Protesters chant outside the U.S. Bankruptcy Court during the General Motors Corp hearing in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. The protesters, retired workers from Ohio and Mississippi, were concerned that when GM emerges from bankruptcy, they would not be required to pay pensions and health care. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS CONFLICT)

Fritz Henderson, chief executive officer of General Motors Corp, ...

(Reuters) — Tue, 30 Jun 2009 15:28:00 GMT

(Reuters) - Fritz Henderson, chief executive officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Boxes are brought into U.S. Bankruptcy Court while legal counsellors ...

(Reuters) — Tue, 30 Jun 2009 15:25:00 GMT

(Reuters) - Boxes are brought into U.S. Bankruptcy Court while legal counsellors and media wait in line in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Boxes are brought into U.S. Bankruptcy Court in New York June ...

(Reuters) — Tue, 30 Jun 2009 15:24:00 GMT

(Reuters) - Boxes are brought into U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Fritz Henderson, chief executive officer of General Motors Corp, ...

(Reuters) — Tue, 30 Jun 2009 15:23:00 GMT

A sign advertising a sale at the Burt GM auto dealer in Denver ...

(Reuters) — Tue, 30 Jun 2009 13:08:00 GMT

(Reuters) - A sign advertising a sale at the Burt GM auto dealer in Denver June 1, 2009. REUTERS/Rick Wilking

US auto giant General Motors has stepped up talks with RHJ International ...

(AFP) — Tue, 30 Jun 2009 01:52:00 GMT

(AFP) - US auto giant General Motors has stepped up talks with RHJ International over a rival deal to sell its European units, including auto-maker Opel, and could sign a memorandum of understanding this week, a report has said. Photo:Clemens Bilan/AFP

Trucks are seen parked outside of the General Motors Pontiac ...

(Reuters) — Mon, 29 Jun 2009 16:25:00 GMT

(Reuters) - Trucks are seen parked outside of the General Motors Pontiac Assembly plant that produces the Chevrolet Silverado and GMC Sierra pick-up trucks in Pontiac, Michigan June 1, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says 'we can no longer afford' the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 1, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Toronto Raptors NBA draft pick DeMar DeRozan poses with Raptors ...

(Reuters) — Fri, 26 Jun 2009 19:13:00 GMT

(Reuters) - Toronto Raptors NBA draft pick DeMar DeRozan poses with Raptors General Manager Bryan Colangelo (R) in Toronto June 26, 2009. REUTERS/Mark Blinch (CANADA SPORT BASKETBALL)

Toronto Raptors NBA draft pick DeMar DeRozan speaks to the media ...

(Reuters) — Fri, 26 Jun 2009 19:06:00 GMT

(Reuters) - Toronto Raptors NBA draft pick DeMar DeRozan speaks to the media beside Raptors General Manager Bryan Colangelo (R) in Toronto June 26, 2009. REUTERS/Mark Blinch (CANADA SPORT BASKETBALL)

The U.S. flag flies at the Burt GM auto dealer in Denver June ...

(Reuters) — Fri, 26 Jun 2009 18:45:00 GMT

(Reuters) - The U.S. flag flies at the Burt GM auto dealer in Denver June 1, 2009. REUTERS/Rick Wilking

Exterior photo of General Motors' Orion Assembly plant in Lake ...

(The Canadian Press) — Fri, 26 Jun 2009 15:25:00 GMT

(The Canadian Press) - Exterior photo of General Motors' Orion Assembly plant in Lake Orion, Mich. (THE ASSOCIATED PRESS/Jerry S. Mendoza)

GM Hummers are lined up at a dealer, Hummer of Columbus, Thursday, ...

(The Canadian Press) — Fri, 26 Jun 2009 11:04:00 GMT

(The Canadian Press) - GM Hummers are lined up at a dealer, Hummer of Columbus, Thursday, June 12, 2008 in Dublin, Ohio. (THE ASSOCIATED PRESS/Kiichiro Sato, File)

General Motors CEO Fritz Henderson speaks at a press conference ...

(Reuters) — Thu, 25 Jun 2009 23:35:00 GMT

(Reuters) - General Motors CEO Fritz Henderson speaks at a press conference following GM's bankruptcy filing in New York in this June 1, 2009 file photo. REUTERS/Shannon Stapleton

Canadian men's Olympic hockey team head coach Mike Babcock (C) ...

(Reuters) — Thu, 25 Jun 2009 16:11:00 GMT

(Reuters) - Canadian men's Olympic hockey team head coach Mike Babcock (C) flanked by team executive director Steve Yzerman (L) and Kevin Lowe, general manager of the Edmonton Oilers, listen during a news conference in Montreal, June 25, 2009. Babcock was handed the toughest assignment at the 2010 Vancouver Olympics on Thursday when he was named head coach of the Canadian men's hockey team. They also announced the management and coaching staff who will compete in the 2010 Olympic Winter Games in Vancouver, British Columbia. REUTERS/Christinne Muschi (CANADA SPORT OLYMPICS ICE HOCKEY IMAGES OF THE DAY)

A copy of a photo showing the Nash auto dealership founded by ...

(Reuters) — Thu, 25 Jun 2009 15:36:00 GMT

(Reuters) - A copy of a photo showing the Nash auto dealership founded by Charles Dalgleish, a Canadian-born son of Scottish immigrants, in 1922 in Detroit, Michigan hangs on the wall of the dealership June 19, 2009. In 1954 Dalgleish started selling Cadillacs before moving the family-owned dealership in 1964 to its present location on Cass Ave. in Detroit. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

The Dalgleish Cadillac auto dealership (L) is seen along with ...

(Reuters) — Thu, 25 Jun 2009 15:32:00 GMT

(Reuters) - The Dalgleish Cadillac auto dealership (L) is seen along with the former Cadillac Sales & Service building (R) on Cass Ave. in Detroit, Michigan June 20, 2009. Both buildings were designed in 1927 by Albert Kahn. The family-owned Dalgleish Cadillac, that took over the building in 1964, was informed in early June by General Motors it would have to close by September 2010 due to the automakers restructuring plans. Picture taken June 20, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

The Dalgleish Cadillac auto dealership, with its original water ...

(Reuters) — Thu, 25 Jun 2009 15:30:00 GMT

(Reuters) - The Dalgleish Cadillac auto dealership, with its original water tower, is seen on Cass Ave. in Detroit, Michigan June 20, 2009. Designed in 1927 by Albert Kahn for Walter Bemb Buick-Pontiac dealership the building was taken over by family owned Dalgleish Cadillac in 1964. General Motors informed the dealership in early June it would have to close by September 2010 due to the automakers restructuring plans. Picture taken June 20, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

The Dalgleish Cadillac dealership is seen on Cass Ave. in Detroit, ...

(Reuters) — Thu, 25 Jun 2009 15:29:00 GMT

(Reuters) - The Dalgleish Cadillac dealership is seen on Cass Ave. in Detroit, Michigan June 20, 2009. Designed in 1927 by Albert Kahn for Walter Bemb Buick-Pontiac dealership the building was taken over by family owned Dalgleish Cadillac in 1964. General Motors informed the dealership in early June it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 20, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

The Dalgleish Cadillac auto dealership sign is seen outside ...

(Reuters) — Thu, 25 Jun 2009 15:28:00 GMT

(Reuters) - The Dalgleish Cadillac auto dealership sign is seen outside the dealership on Cass Ave. in Detroit, Michigan June 20, 2009. Dalgleish Cadillac, which has been selling the luxury car brand in Detroit since 1954, was informed in early June it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 20, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac auto dealership service technician Lee Sylvester ...

(Reuters) — Thu, 25 Jun 2009 15:25:00 GMT

(Reuters) - Dalgleish Cadillac auto dealership service technician Lee Sylvester talks about his job of 34-years in the dealerships service department in Detroit, Michigan June 18, 2009. General motors informed the dealership, which has been selling the luxury car brand in Detroit since 1954, it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 18, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac auto dealership body shop coordinator James ...

(Reuters) — Thu, 25 Jun 2009 15:24:00 GMT

(Reuters) - Dalgleish Cadillac auto dealership body shop coordinator James Darby talks about his 22-years working at the auto dealership and the valuable service they provide to their customers in Detroit, Michigan June 18, 2009. Dalgleish Cadillac, which has been selling the luxury car brand in Detroit since 1954, has been informed by General Motors it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 18, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac auto technician David Lytle, who has worked ...

(Reuters) — Thu, 25 Jun 2009 15:21:00 GMT

(Reuters) - Dalgleish Cadillac auto technician David Lytle, who has worked at the dealership 25 years, stands by his work station in the service department in Detroit, Michigan June 18, 2009. General Motors informed the family owned dealership it must close by September 2010 as part of its restructuring plans. Picture taken June 18, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac auto service advisor Emanuel Garland, who ...

(Reuters) — Thu, 25 Jun 2009 15:20:00 GMT

(Reuters) - Dalgleish Cadillac auto service advisor Emanuel Garland, who has worked at the dealership 15 years, stands by the service desk in Detroit, Michigan June 18, 2009. General Motors informed the dealership it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 18, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac new and used vehicle salesperson Leo Durocher ...

(Reuters) — Thu, 25 Jun 2009 15:18:00 GMT

(Reuters) - Dalgleish Cadillac new and used vehicle salesperson Leo Durocher stands in the used vehicle lot, with the former General Motors headquarters (R) seen behind him, in Detroit, Michigan June 19, 2009. Durocher has been selling vehicles at Dalgleish for 45 years. General Motors informed the dealership it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac general manager Keith Dalgleish (R) stops ...

(Reuters) — Thu, 25 Jun 2009 15:16:00 GMT

(Reuters) - Dalgleish Cadillac general manager Keith Dalgleish (R) stops to talk with new car salesperson Milford Netterville in the dealership showroom in Detroit, Michigan June 19, 2009. Dalgleish Cadillac, which has sold the luxury car brand in Detroit since 1954, was informed by General Motors it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac new car salesperson Milford Netterville talks ...

(Reuters) — Thu, 25 Jun 2009 15:14:00 GMT

(Reuters) - Dalgleish Cadillac new car salesperson Milford Netterville talks on the phone at his desk in the dealership showroom in Detroit, Michigan June 19, 2009. Dalgleish Cadillac, which has sold the luxury car brand in Detroit since 1954, was informed by General Motors it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac new car salesperson Marilyn Austerberry chats ...

(Reuters) — Thu, 25 Jun 2009 15:12:00 GMT

(Reuters) - Dalgleish Cadillac new car salesperson Marilyn Austerberry chats with customer Cathy Leonard in the dealership showroom in Detroit, Michigan June 19, 2009. Austerberry has been selling vehicles at the dealership for 29 years. In early June Dalgleish Cadillac was informed by General Motors they must close by September 2010 as part of the automakers restructuring plans. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac auto dealership general manager Keith Dalglesih ...

(Reuters) — Thu, 25 Jun 2009 15:02:00 GMT

(Reuters) - Dalgleish Cadillac auto dealership general manager Keith Dalglesih talks with two of the dealerships long-time auto technicians, Roy Jones, and Greg Kraeme in the service area in Detroit, Michigan June 19, 2009. The family owned business, which started its first auto dealership in Detroit in 1922 and started selling Cadiillacs in 1954, was told by General Motors it must close by September 2010 as part of the automakers restructuring plans. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Dalgleish Cadillac auto dealership general manager Keith Dalglesih ...

(Reuters) — Thu, 25 Jun 2009 15:02:00 GMT

(Reuters) - Dalgleish Cadillac auto dealership general manager Keith Dalglesih stands in the dealership showroom in Detroit, Michigan June 19, 2009. REUTERS/Rebecca Cook

Dalgleish Cadillac co-general managers Doug Dalgleish Jr. (L) ...

(Reuters) — Thu, 25 Jun 2009 14:56:00 GMT

(Reuters) - Dalgleish Cadillac co-general managers Doug Dalgleish Jr. (L) and his brother Keith stand on Cass Ave. outside of their dealership in Detroit, Michigan June 19, 2009. The family owned business, first started in Detroit as a Nash dealership in 1922, was informed by General Motors they must close by September 2010 as part of the automakers restructuring plans. Seen in back left is the former General Motors headquarters until 1996. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)