General Motors Company (GM) Says New $130 Million Data Center Will Help Prevent Large Recalls

Today General Motors Company (NYSE:GM) announced that they are building a new $130 million enterprise data center in Warren, Michigan.  The facility will have 5,040 square feet of space, 48 work stations, and a 955-square foot video wall with 28 configurable screens.  The facility will be designed to monitor the use of data across their operations.  The data center will be able to handle computer simulations on vehicle design, fuel economy, quality, and safety.

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Warren Buffett Buys Another 5 Million Shares In GM

Berkshire Hathaway, the investment arm of billionaire Warren Buffett, has acquired another 5 million shares in General Motors.  The company has raised their stake in the company to 15 million shares for the quarter ending September 30th.  David Einhorn of Greenlight Capital boosted their stake to 21.6 million shares from 17.4 million shares as of June 30th. Continue reading →

General Motors Revenue Grows 2.5%, Profit Drops 14.5% In 3rd Quarter

General Motors has announced that their profit has dropped 14.5% in Q3.  Net income is down $1.5 billion (89 cents per share) for the quarter that had ended in September.  GM’s revenue grew 2.5% to $37.6 billion.  GM estimated that it would lose between $1.5 billion to $1.8 billion for the full year in Europe.

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General Motors To Invest $450 Million In Argentina Complex

General Motors will be investing $450 million between 2013 and 2015 to expand their Rosario Automotive Complex to build a new global Chevrolet vehicle according to chairman and CEO Dan Akerson.  “We are pleased to be making this investment in Argentina, which remains a very important market for us,” stated Mr. Akerson.  “We have a long, proud history here dating to 1925 and our latest investment is certainly good news for our GM Argentina employees, our extensive dealer and supplier network and the local economy.

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GM Names Robert Ferguson As Cadillac’s Global Brand Chief

General Motors has announced today that they have appointed Robert E. Ferguson as the global growth and development head for the Cadillac brand.  This move is starting immediately and Mr. Ferguson will report directly to GM chairman and CEO Dan Akerson.  Mr. Ferguson will be responsible for the marketing, brand management, and advertising for Cadillac in markets across the world.

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GM Makes A Bid For Ally Financial’s International Business

General Motors has bid on Ally Financial’s international operations.  This is about two months after GM said that he wanted to buy Ally Financial’s business.  GM made the bid through their subsidiary GM Financial.  There are a “number of third parties” that are in the preliminary stages of the bid process.  Ally’s assets could attract bids that are between $2 and $4 billion.  Ally has operations in Canada, Mexico, Europe and Latin America.

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GM CFO Dan Ammann Believes The Auto Giant Has A Narrow Window To Fundamentally Change

Dan Ammann was hired as the Senior Vice President and Chief Financial Officer of General Motors in April 2011.  Before that he was the Vice President of Finance and Treasurer.  GM appointed him to the Opel Supervisory Board in November 2011.  He was previously a managing director and head of industrial investment banking at Morgan Stanley, a position that he held until 2004.  He worked at Morgan Stanley for 11 years and primary worked on M&As, raising capital, and restructuring.

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