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Slower US job losses; Is recession beginning to ease?

Posted on: June 7th 2009 in Press Releases.

Employers eliminated the fewest jobs in eight months in May, strengthening signs that the recession is easing, while a drop in wage growth offered a warning the recovery may be muted. Payrolls fell by 345,000, less than forecast, while the unemployment rate hit a 25-year high of 9.4 per …

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M&M keen on picking up GM’s assets

Posted on: June 4th 2009 in Press Releases.

The Indian operations of GM may not get affected by the automaker’s filing for bankruptcy, but for the Indian auto component industry, it’s a great opportunity to grab. Mahindra and Mahindra (M&M) too want to join in as after Europe it’s a great chance for them to …

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Obama’s plan to save GM: bankruptcy, $30 billion

Posted on: June 2nd 2009 in Press Releases.

WASHINGTON (AP) — President Barack Obama pushed a humbled General Motors Corp. into bankruptcy on Monday and said the federal government will act as “reluctant shareholder” when it assumes a 60 percent ownership of the smaller carmaker that emerges. The president said …

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GM India not included in US bankruptcy filing

Posted on: June 1st 2009 in Press Releases.

NEW DELHI: GM India has announced that it continues all its normal operations and is not included in the court reinvention process of GM’s US operations. “We believe this step, which was taken with the support of the US government, is the most efficient and effective means for GM to …

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