Government Motors (General Motors or GM nickname)
General Motors (GM) is an automotive company headquartered in Detroit; New York City’s General Motors Building is at Fifth Avenue and 59th Street in Manhattan. In 2009, GM filed for Chapter 11 bankruptcy reorganization and was bailed out with funds from the U.S. government.
The General Motors nickname of “Government Motors” has been cited in print since at least March 30, 2009.
Wikipedia: General Motors
General Motors Company (NYSE: GM, TSX: GMM.U), commonly known as GM, formerly incorporated (until 2009) as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world’s largest automaker, by vehicle unit sales, in 2011.
GM employs 202,000 people and does business in some 157 countries. General Motors produces cars and trucks in 31 countries, and sells and services these vehicles through the following divisions/brands: Buick, Cadillac, Chevrolet, GMC, Opel, Vauxhall, and Holden, as well as two joint ventures in China, Shanghai GM and SAIC-GM-Wuling Automobile. GM’s OnStar subsidiary provides vehicle safety, security and information services.
In 2009, the company emerged from a government backed Chapter 11 reorganizaiton. In 2010, GM made an initial public offering that was one of the world’s top 5 largest IPOs to date. GM has reported significant profits, posting a record annual profit in 2011.
Wikipedia: General Motors Building (New York)
The General Motors Building is a 50-story, 705-foot (215 m) office tower in Manhattan, New York City, facing Fifth Avenue at 59th Street . The building is one of the few structures in Manhattan that occupies a full city block. The building size is approximately 1,774,000 rentable square feet on a plot measuring 200 x 420 (84,350 square feet) that was formerly the site of the Savoy-Plaza Hotel. The tower was designed in the international style by Edward Durell Stone & Associates in association with Emery Roth & Sons.
Questions and Observations
GM = Government Motors
Published March 30, 2009 | By Bruce McQuain
I thought I’d quickly steal that title from one of our commenters (Brown). It pretty much encapsulates the latest and rather significant change as apparently the CEO of General Motors stepped down at the behest of the White House. Apparently Obama is now in the car business
NewsOK
Our GM: Firing of CEO raises stakes for taxpayers
The Oklahoman Editorial
Published: March 31, 2009
Americans probably wonder which is worse: General Motors going under, taking thousands of jobs with it, or the auto giant turning into “Government Motors,” run by the U.S. Treasury.
StreetInsider.com
GM IS BANKRUPT, ‘Government Motors’ Is Born
June 1, 2009 12:44 AM EDT
The long-awaited bankruptcy of General Motors’ (NYSE: GM) is finally upon us and the U.S. government will pitch in another $30 billion of taxpayer money to assist in supporting the ‘New GM’, or what some have referred to as ‘Government Motors’. GM will use Section 363 of the bankruptcy code which will result in the creation of a ‘New GM’ with a healthy balance sheet, putting the new company on a clear path toward long-term viability and success. The support of more than 54% of the bondholders cleared the way for the 363 sale.
OCLC WorldCat record
WOULD YOU BUY A CAR: FROM GOVERNMENT MOTORS?
Edition/Format: Article : English
Publication: BUSINESS WEEK -NEW YORK- no. 4134, (June 8, 2009): 28-29
Database: British Library Serials
OCLC WorldCat record
GOVERNMENT MOTORS Strange optimism at GM
Publisher: Toronto, Canada : Maclean Pub. Co.,
Edition/Format: Article : English
Publication: Maclean’s. 122, no. 22, (June 15, 2009): 42-43
Database: ArticleFirst
OCLC WorldCat record
“GOVERNMENT MOTORS” The phenomenal cost of bailing out and reinventing the American car giants is just the beginning of the story
Edition/Format: Article : English
Publication: INTHEBLACK, 79, no. 8, (2009): 22-29
Database: British Library Serials
OCLC WorldCat record
The car industry: Government Motors no more
Edition/Format: Article : English
Publication: ECONOMIST -LONDON- ECONOMIST NEWSPAPER LIMITED- no. 8696, (August 21, 2010): 11
Database: British Library Serials