General Motors

Main

Incorporation

1908

Founded General Motors (GM) by William Durant

Alfred Sloan As President

1923 - 1937

Alfred Sloan took up president of GM

Rick Wagoner As CEO

2000

GM President, Rick Wagoner took over as CEO

Cost-cutting Measures

2000 - 11/25/2005

Plant Closings and workforce reductions

Strike

2007

UAW called for a strike against GM, the first nationwide strike in more than 35 years. The two-day strike resulted in a deal that created a $50 billion independent health care trust with GM providing most of the funding

Awards

06/2011

Chevy Cruze compact model won accolades for being the best-selling passenger car, surpassing Toyota and Honda

Financial and Market Position Figures

Key profits and losses, government bailout funds and position in the automotive industry in terms of market share

Establish As Industry Leader

1927

Establish as industry leader by offering a range of models and colors

$38.7 Billion Annual Loss

12/2007

Reported annual loss of $38.7 billion, the largest annual loss in the history of the automotive industry

Buyouts and Layoffs

12/2007

Offered buyouts to workers in the US and cut 7% of its white-collar workers

$32 Billion Loss

12/2008

Approximately $32 billion loss

Fell Off Its Leader Position

12/2008

Toyota surpassed GM as the world's largest automaker in terms of vehicles sold

Receive $49.5 Billion Bailout Fund

01/2009

Receive $49.5 billion bailout fund from the US Government

Ended Government-Supervised Bankruptcy

06/2009

Ended its brief government-supervised bankruptcy and emerged with fewer brands, less debt and fewer operating costs. The US Government owned approximately 60% of GM at that time

Reduce Debt

07/2011

US Government still owned approximately 26% of GM but had managed to recover $23.1 billion of the $49.5 billion in bailout funds GM received

Value Chain and Resources

Change in value chain primary and supporting activities, and resources, such as new physical facility, product launches, large-scale recruitment or retrenchment, recruitment of key personnel and wage changes

Launch Chevrolet Brand

1915

Formed a company with Louis Chevrolet

Launch Saturn

1990

NUMMI launch Saturn brand

Equity Stakes

Acquisitions, Collaborations, Consolidations, Public Listing, Sales and Spin-offs

Acquire Buick Motors

1904

Acquire Buick Motors

Large Acquisitions

1910

Acquire Oldsmobile, Cadillac and Pontiac

Joint Venture with Toyota

1984

Established a joint venture with Toyota to form the New United Motor Manufacturing Inc. (NUMMI)

Spin-off of Delphi

1999

Spin-off auto parts manufacturing company Delphi

Largest IPO In US

11/2010

Raised $20.1 billion in the biggest initial public offering in US history, with shares priced at the top range