GM to announce more production cuts?General Motors Corp. is telling workers that it will make further production cuts at several factories, according to people briefed on the discussions.
German solar energy company SolarWorld bids 1 billion euros for Opel assetsGerman solar energy company SolarWorld AG said Wednesday it plans to offer one billion euros for some assets of carmaker Adam Opel GmbH, the German subsidiary of General Motors Corp.
GM says board doesn't see bankruptcy as option General Motors Corp.'s board of directors does not consider bankruptcy protection a viable option to solve the company's financial troubles, but it has discussed Chapter 11 because it has a legal duty to do so, a spokesman said Saturday.
Century-old GM, an icon of American manufacturing, has been battered by a plunge in car sales as American consumers tighten their belts and shift away from the big moneymaking pickup trucks and SUVS that have long the staples of GM's lineup.
GM, which has slashed jobs and closed plants since early in the decade, has warned that it could run low on cash by the end of the year unless it gets a taxpayer-funded rescue from the government.
Stocks point lower on economic worries U.S. stocks looked to extend their losses at the open Thursday as investors found little relief from worries about the fate of Detroit's three automakers and broader fears about the struggling economy.
Stock futures contracts fell more than 1 percent following a late-day sell-off Wednesday that sent stocks to their lowest levels since 2003. The major indexes fell more than 5 percent, while the Dow Jones industrial average tumbled below 8,000, a psychological benchmark for the market.
Investors who have been groping for a bottom to the yearlong market rout are now worried that Washington's disagreement over whether to bail out the auto industry could lead to bankruptcy of major automakers like General Motors Corp. and could send ripple effects through the economy _ including a further blow to consumer confidence.
TiVo shares fall on court delay in Dish suitShares of TiVo Inc. plunged on Friday after a federal judge delayed granting its request to hold Dish Network Corp.