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'''General Motors''' (GM) automobile manufacturing company was founded in 1908 by William C. Durant, and rose to become the world's leading auto manufacturers from the 1920s to 2008, with plants in the United States, Canada and Europe. In 2006, over 9 million GM cars and trucks were sold. Since then a series of massive losses have brought GM into bankruptcy. Where once it had a 50% share of the market for new vehicles in the United States, the company hopes at best to at least hang on to its current 18% share in the face of fierce competition from Asian makers, and a [[Recession of 2008|recession]] that has forced millions of people to postpone major purchases.  GM in July 2009 emerged from bankruptcy after 40 days having shed many debts, dealer, employees, and plants, kept alive with government loans and the hope that it will have electric cars on the road and find its niche market.  It is currently owned and operated by the U.S. government.

'''General Motors''' (GM) automobile manufacturing company was founded in 1908 by William C. Durant, and rose to become the world's leading auto manufacturers from the 1920s to 2008, with plants in the [[United States]], [[Canada]] and [[Europe]]. In 2006, over 9 million GM cars and trucks were sold. Since then a series of massive losses have brought GM into bankruptcy. Where once it had a 50% share of the market for new vehicles in the United States, the company hopes at best to at least hang on to its current 18% share in the face of fierce competition from Asian makers, and a [[Recession of 2008|recession]] that has forced millions of people to postpone major purchases.  GM in July 2009 emerged from bankruptcy after 40 days having shed many debts, dealer, employees, and plants, kept alive with government loans and the hope that it will have electric cars on the road and find its niche market.  From 2010-2013, it was owned and operated by the U.S. government as a "bail-out," but the government sold the last of its shares in the company in 2013.<ref>https://www.usatoday.com/story/money/cars/2013/12/09/government-treasury-gm-general-motors-tarp-bailout-exit-sale/3925515/</ref>

 

==History==

==History==

General Motors was originally formed by joining several independent companies: the Olds Motor Vehicle Company, owned by Ransom E. Olds, (maker of the [[Oldsmobile]]); Cadillac Automobile Company owned by Henry M. Leland; Buick Motor Company, founded by David Dunbar Buick, and the Oakland Motor Car Co, the original maker of the Pontiac.  

General Motors was originally formed by joining several independent companies: the Olds Motor Vehicle Company, owned by Ransom E. Olds, (maker of the [[Oldsmobile]]); Cadillac Automobile Company owned by Henry M. Leland; Buick Motor Company, founded by David Dunbar Buick, and the Oakland Motor Car Co, the original maker of the Pontiac.  

===2010 Public Offering===

===2010 Public Offering===

On November 17, 2010, GM sold itself to the public through an initial public offering of its stock.<ref>Dunstan Prial. [http://www.foxbusiness.com/markets/2010/11/16/stakes-high-gm-shares-public/ Stakes Are High as GM Shares Get Set for Debut], FOXBusiness (FoxBusiness.com), November 17, 2010.</ref> The deal came 16 months after GM emerged from [[bankruptcy]], the fourth-largest Chapter 11 filing in [[U.S.|United States]] history. Since then, the [[U.S. government]] has been the largest stakeholder; [[Labor Unions]], Asian and Middle Eastern sovereign funds and other Foreign Governments also hold significant shares.<ref>Edward Helmore. [http://www.guardian.co.uk/business/2010/nov/17/general-motors-return-us-stockmarket-bailout-china General Motors increases IPO as demand surges from Asia], [[The Guardian|guardian.co.uk]], November 17, 2010.</ref>  The [[United Auto Workers]] obtained a generous share of GM stock in the company's 2009 bankruptcy settlement, when the [[Obama administration]] pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the [[UAW|union]] ahead of many suppliers, dealers and investors.<ref>Taxpayers and investors not as fortunate as UAW. [http://www.washingtontimes.com/news/2010/nov/25/gms-union-on-road-to-recovery-after-stock-sale/ GM's union recovering after stock sale], By Patrice Hill, ''The Washington Times'', November 25, 2010.</ref> "Priority one was serving the interests of the UAW," when the [[White House|White House's]] auto task force engineered the bankruptcy.

On November 17, 2010, GM sold itself to the public through an initial public offering of its stock.<ref>Dunstan Prial. [https://www.foxbusiness.com/markets/2010/11/16/stakes-high-gm-shares-public/ Stakes Are High as GM Shares Get Set for Debut], FOXBusiness (FoxBusiness.com), November 17, 2010.</ref> The deal came 16 months after GM emerged from [[bankruptcy]], the fourth-largest Chapter 11 filing in [[U.S.|United States]] history. Since then, the [[U.S. government]] has been the largest stakeholder; [[Labor Unions]], Asian and Middle Eastern sovereign funds and other Foreign Governments also hold significant shares.<ref>Edward Helmore. [http://www.guardian.co.uk/business/2010/nov/17/general-motors-return-us-stockmarket-bailout-china General Motors increases IPO as demand surges from Asia], [[The Guardian|guardian.co.uk]], November 17, 2010.</ref>  The [[United Auto Workers]] obtained a generous share of GM stock in the company's 2009 bankruptcy settlement, when the [[Obama administration]] pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the [[UAW|union]] ahead of many suppliers, dealers and investors.<ref>Taxpayers and investors not as fortunate as UAW. [https://www.washingtontimes.com/news/2010/nov/25/gms-union-on-road-to-recovery-after-stock-sale/ GM's union recovering after stock sale], By Patrice Hill, ''The Washington Times'', November 25, 2010.</ref> "Priority one was serving the interests of the UAW," when the [[White House|White House's]] auto task force engineered the bankruptcy.

==2014 Recalls==

==2014 Recalls==

Since January 2014, over 28 million GM cars worldwide have been recalled for a variety of issues, ranging from faulty ignition switches to airbags that can suddenly deploy.<ref>[http://www.cnn.com/interactive/2014/05/us/gm-recalls/]</ref> GM came under criticism for knowing about these issues for years, but covered them up the whole time. The government fined General Motors $35 million, but GM will have to pay over a billion dollars for new parts, lawsuits, and continuing investigations.

Since January 2014, over 28 million GM cars worldwide have been recalled for a variety of issues, ranging from faulty ignition switches to airbags that can suddenly deploy.<ref>[https://www.cnn.com/interactive/2014/05/us/gm-recalls/]</ref> GM came under criticism for knowing about these issues for years, but covered them up the whole time. The government fined General Motors $35 million, but GM will have to pay over a billion dollars for new parts, lawsuits, and continuing investigations.

==Europe==

==Europe==

In February 2017 it was announced that GM's European brands, Vauxhall and Opel, could be sold to the French company [[PSA Group]].<ref>http://www.telegraph.co.uk/business/2017/02/14/general-motors-talks-sell-vauxhall-opel-marques-peugeot/</ref>

In February 2017 it was announced that GM's European brands, Vauxhall and Opel, could be sold to the French company [[PSA Group]].<ref>https://www.telegraph.co.uk/business/2017/02/14/general-motors-talks-sell-vauxhall-opel-marques-peugeot/</ref>

 

In June 2020, GM was listed as one of numerous leftist-controlled companies that have gone "[[woke]]" and now support the criminal rioters of [[Antifa]] and [[Black Lives Matter]] in the wake of the [[2020 leftist riots]].<ref>[https://gab.com/a/posts/104311289660016704 Here Are The Companies That Support Antifa, Black Lives Matter, and Want You Dead] at Gab.com</ref>

==See also==

==See also==

* [[Automobile]]

*[[Automobile]]

*[[General Motors Corp. v. Tracy]]

*[[General Motors Corp. v. Tracy]]

*[[United States v. General Motors Corp.]]

*[[United States v. General Motors Corp.]]

==References==

==References==

<references/>

<references/>

==External links==

==External links==

*http://www.gm.com/company/corp_info/history/

*http://www.gm.com/company/corp_info/history/

[[Category:American Companies]]

[[Category:American Companies]]

[[Category:United States Businesses]]

[[Category:United States Businesses]]

[[Category:Cars]]

[[Category:Cars]]