1. General Motors

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  2. About General Motors

    General Motors

    General Motors Company, also known as GM, is a United States based automaker with headquarters in Detroit, Michigan.

    For 2008, GM ranked as the largest U.S. automaker by sales and the world's second largest by sales. GM had the third highest 2008 global revenues among automakers on the Fortune Global 500. GM manufactures cars and trucks in 34 countries, recently employed 244,500 people around the world, and sells and services vehicles in some 140 countries.

    On June 1, 2009 General Motors filed for Chapter 11 bankruptcy proceedings from which it emerged on July 10, 2009 in a reorganization in which a new entity acquired the most valuable assets. GM is temporarily majority owned by the United States Treasury and Canadian governments, with the US government investing a total of $57.6 billion under the Troubled Asset Relief Program.

    While no GM shares are currently available to the public, the company plans an initial public stock offering (IPO) in 2010.

    GM plans to focus its business on its four core US brands — Chevrolet, Cadillac, Buick, and GMC. In Europe, following a period of negotiation to sell a majority stake in its Opel and Vauxhall brands, GM decided to retain full ownership of these operations.