General Motors

General Motors is an automotive corporation from the United States of America which has many popular branches, some of which have their headquarters in other countries and continents.

The company is one of "The Big Three" in the United States of America, produces a number of popular brands. Some of their brands are based in other countries, most of which are in Europe.

Engines

General Motors produces a number of engines which are available as a "crate engine", or engine you can buy, brand new, without a car. They are mostly known for their V8 engines, particular their 5.7 liter V8.

2009 GM Bailout

GM Requests a Government Bailout

The top members of General Motors, Ford, and Chrysler spoke with the United States senate about their financial situation, and why they needed to be bailed out. This video was uploaded to YouTube by The Associated Press.

General Motors recieved a bailout from the United States government in June of 2009 which prevented the company from going bankrupt or, in a worst case scenario, out of business.

GM was one of three automotive companies that showed up to ask for bailout funds, and was one of the companies that recieved money through section 363 of Chapter 11, Title 11, United States Code. As part of this process, General Motors sold Hummer, Saturn, and Saab, which added to their list of discontinued brands like Pontiac. The US government also owned a small portion of the company afterwards.

The bailout took place in a time of economic trouble, which put pressure on the government to bail out these companies due to their importance in the country's economy, and the number of jobs at stake.