GENERAL MOTORS COMPANY
General Motors Corporation
“Engineered without compromise”
1. General Presentation of the company
One of the world’s largest automakers, GMC has it’s roots traced back to 1908. Also known as GM, this company is a United States-based automaker with its headquarters in Detroit, Michigan. After the General Motors Company was founded, it soon became known as one of the largest car manufacturers in the world. In 1909, the Grabowsky Rapid Motor Vehicle Company (GMC) joined with GM. The trade name GMC Trucks was first exhibited in 1912 at the New York Auto Show and registered with the U.S. Patent Office eight months later. The company manufactures cars and trucks in 34 countries, GM employs 205,000 people in every major region of the world and sells and services vehicles in over 157 countries worldwide.
The General Motors Company ranked as the largest U.S. automaker and the world’s second-largest for 2008, having the 3rd-highest 2008 global revenues among automakers on the Fortune Global 500. For most of the 20th century, GM was the biggest company in the most important industry in the world. It not only led in automotive innovations, but helped define the new breed of massive, bureaucratic multinational corporations that shaped the post-war economy. It was the world’s largest car maker from 1931-2008, when it was surpassed by Toyota.
In 2009, the company filed for Chapter 11 bankruptcy, which helped reorganize itself as a new entity that acquired the most valuable assets. GM became temporarily majority owned by the U.S. Treasury and, to a smaller extent, The Canada Development Investment Corporation, due to the United States government investment aid of 57..6 billion dollars under the Troubled Asset Relief Program. On Dec. 31, 2008, GM entered into a loan agreement with the U.S. Department of Treasury (UST) for funding of... [continues]
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