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Motors Liquidation Company - Wikipedia
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class="vector-toc-numb">1.6</span> <span>Franchise dealership consolidation controversy</span> </div> </a> <ul id="toc-Franchise_dealership_consolidation_controversy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Sale_of_good_assets_to_New_GM" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Sale_of_good_assets_to_New_GM"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.7</span> <span>Sale of good assets to New GM</span> </div> </a> <ul id="toc-Sale_of_good_assets_to_New_GM-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-The_end_of_MLC" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#The_end_of_MLC"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.8</span> <span>The end of MLC</span> </div> </a> <ul id="toc-The_end_of_MLC-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 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data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><style data-mw-deduplicate="TemplateStyles:r1242257876">.mw-parser-output .ib-company .infobox-label{padding-right:0.5em}.mw-parser-output .ib-company .infobox-data,.mw-parser-output .ib-company .infobox-below{line-height:1.35em}.mw-parser-output .ib-company-logo img{background-color:#f8f9fa}.mw-parser-output .ib-company-locality,.mw-parser-output .ib-company-country{display:inline}</style><table class="infobox ib-company vcard"><caption class="infobox-title fn org">Motors Liquidation Company</caption><tbody><tr><td colspan="2" class="infobox-image ib-company-logo logo"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:MLC_Logo.gif" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/9/95/MLC_Logo.gif" decoding="async" width="198" height="78" class="mw-file-element" data-file-width="198" data-file-height="78" /></a></span></td></tr><tr><th scope="row" class="infobox-label">Formerly</th><td class="infobox-data nickname">General Motors Company (1908–1916)<br />General Motors Corporation (1916–2009)</td></tr><tr><th scope="row" class="infobox-label">Company type</th><td class="infobox-data category"><a href="/wiki/Public_company" title="Public company">Public</a></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Ticker_symbol" title="Ticker symbol">Traded as</a></div></th><td class="infobox-data"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"><ul><li><a href="/wiki/OTC_Markets_Group" title="OTC Markets Group">OTC Pink</a>: MTLQQ</li><li><a href="/wiki/OTC_Markets_Group" title="OTC Markets Group">OTC Pink</a>: GMGMQ</li><li><a href="/wiki/New_York_Stock_Exchange" title="New York Stock Exchange">NYSE</a>: GM</li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Industry</th><td class="infobox-data category"><a href="/wiki/Automotive_industry" title="Automotive industry">Automotive</a></td></tr><tr><th scope="row" class="infobox-label">Founded</th><td class="infobox-data">1908<span style="display:none"> (<span class="bday dtstart published updated itvstart">1908</span>)</span> (as General Motors Company)<br />2009<span style="display:none"> (<span class="bday dtstart published updated itvstart">2009</span>)</span> (changed name to Motors Liquidation Company)</td></tr><tr><th scope="row" class="infobox-label">Defunct</th><td class="infobox-data">March 31, 2011<span class="noprint">; 13 years ago</span><span style="display:none"> (<span class="dtend">2011-03-31</span>)</span></td></tr><tr><th scope="row" class="infobox-label">Fate</th><td class="infobox-data">Filed for <a href="/wiki/Chapter_11_bankruptcy" class="mw-redirect" title="Chapter 11 bankruptcy">Chapter 11 bankruptcy</a> in 2009. Reorganized as <a href="/wiki/General_Motors" title="General Motors">General Motors Company</a>.</td></tr><tr><th scope="row" class="infobox-label">Successor</th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li><a href="/wiki/General_Motors" title="General Motors">General Motors</a></li><li><a href="/wiki/RACER_Trust" title="RACER Trust">RACER Trust</a> and four other trusts</li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data adr"><div class="ib-company-locality locality"><a href="/wiki/Detroit" title="Detroit">Detroit</a>, Michigan</div>, <div class="ib-company-country country-name">United States</div></td></tr></tbody></table> <p><b>Motors Liquidation Company</b> (<b>MLC</b>), formerly <b>General Motors Corporation</b>, was the company left to settle past liability claims from <a href="/wiki/General_Motors_Chapter_11_reorganization" title="General Motors Chapter 11 reorganization">Chapter 11 reorganization</a> of American car manufacturer <a href="/wiki/General_Motors" title="General Motors">General Motors</a>. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of <a href="/wiki/Unsecured_creditor" title="Unsecured creditor">unsecured creditors</a>, the second to handle environmental response for MLC's remaining assets, a third to handle present and future <a href="/wiki/Asbestos_litigation" class="mw-redirect" title="Asbestos litigation">asbestos-related claims</a>, and a fourth for litigation claims.<sup id="cite_ref-rtr_1-0" class="reference"><a href="#cite_note-rtr-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>Motors Liquidation Company's stock symbol was changed from GMGMQ to MTLQQ, effective July 15, 2009.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> MTLQQ stock was cancelled. Its unsecured creditors were issued stock for the Motors Liquidation Company General Unsecured Creditors Trust under the symbol MTLQU. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/wiki/History_of_General_Motors" title="History of General Motors">History of General Motors</a> and <a href="/wiki/General_Motors_Chapter_11_reorganization" title="General Motors Chapter 11 reorganization">General Motors Chapter 11 reorganization</a></div> <div class="mw-heading mw-heading3"><h3 id="Bankruptcy_filing">Bankruptcy filing</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=2" title="Edit section: Bankruptcy filing"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/40px-Wikinews-logo.svg.png" decoding="async" width="40" height="22" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/60px-Wikinews-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/80px-Wikinews-logo.svg.png 2x" data-file-width="759" data-file-height="415" /></span></span></div> <div class="side-box-text plainlist">Wikinews has coverage of the speech and press conference: <div><ul><li><a href="https://en.wikinews.org/wiki/Barack_Obama_presents_rescue_plan_after_GM_declaration_of_bankruptcy" class="extiw" title="wikinews:Barack Obama presents rescue plan after GM declaration of bankruptcy"> Barack Obama presents rescue plan after GM declaration of bankruptcy</a></li><li><a href="https://en.wikinews.org/wiki/Fritz_Henderson_outlines_plan_for_%22New_GM%22_after_GM_declaration_of_bankruptcy" class="extiw" title="wikinews:Fritz Henderson outlines plan for "New GM" after GM declaration of bankruptcy"> Fritz Henderson outlines plan for "New GM" after GM declaration of bankruptcy</a></li></ul></div></div></div> </div> <p>On the morning of June 1, 2009, <a href="/wiki/Chevrolet-Saturn_of_Harlem" title="Chevrolet-Saturn of Harlem">Chevrolet-Saturn of Harlem</a>, a dealership in <a href="/wiki/Manhattan" title="Manhattan">Manhattan</a> that was owned by GM itself, filed for bankruptcy protection there, followed in the same court by General Motors Corporation (the main GM in Detroit), GM's subsidiary <a href="/wiki/Saturn_LLC" class="mw-redirect" title="Saturn LLC">Saturn LLC</a>, and Saturn LLC's subsidiary Saturn Distribution Corporation.<sup id="cite_ref-hughes_3-0" class="reference"><a href="#cite_note-hughes-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> All cases were assigned to Judge <a href="/wiki/Robert_Gerber" title="Robert Gerber">Robert Gerber</a>.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>The filing by the dealership declared General Motors to be a <a href="/wiki/Debtor_in_possession" title="Debtor in possession">debtor in possession</a>.<sup id="cite_ref-hughes_3-1" class="reference"><a href="#cite_note-hughes-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> The Manhattan dealership's filing allowed General Motors to file its own bankruptcy petition in the <a href="/wiki/United_States_Bankruptcy_Court_for_the_Southern_District_of_New_York" title="United States Bankruptcy Court for the Southern District of New York">United States Bankruptcy Court for the Southern District of New York</a>, its preferred court. Normally for such cases, the company would have filed in the courts located in the state(s) where the company is incorporated, or where it conducts operations, which for <a href="/wiki/Detroit" title="Detroit">Detroit</a>-headquartered General Motors would have been the courts in <a href="/wiki/Michigan" title="Michigan">Michigan</a> or <a href="/wiki/Delaware" title="Delaware">Delaware</a>, where it is incorporated. General Motors' attorneys, however, preferred to file in the federal courts in New York, because those courts have a reputation for expertise in bankruptcy.<sup id="cite_ref-Reuters1_5-0" class="reference"><a href="#cite_note-Reuters1-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> In a press conference that began four hours and eighteen minutes after the filing, the GM Chief Executive Officer, <a href="/wiki/Fritz_Henderson" class="mw-redirect" title="Fritz Henderson">Fritz Henderson</a>, stressed that he intended for the bankruptcy process to move quickly.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> In addition to Henderson's press conference, <a href="/wiki/President_of_the_United_States" title="President of the United States">President of the United States</a> <a href="/wiki/Barack_Obama" title="Barack Obama">Barack Obama</a> made a speech from the <a href="/wiki/White_House" title="White House">White House</a> four hours and three minutes after the court filing.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Court_schedule_and_motions">Court schedule and motions</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=3" title="Edit section: Court schedule and motions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The General Motors bankruptcy case was formally entitled <i><a href="/wiki/In_re" title="In re">In re</a> General Motors Corp.</i>, case number 09-50026 in the Southern District, Manhattan, New York.<sup id="cite_ref-Pettersso_8-0" class="reference"><a href="#cite_note-Pettersso-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> General Motors was represented by the New York specialist law firm Weil, Gotshal & Manges. The United States Treasury and an ad hoc group of the bondholders of General Motors Corporation were also represented in court.<sup id="cite_ref-Reuters2_9-0" class="reference"><a href="#cite_note-Reuters2-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>One of the first motions filed in court was to void the leases on the seven corporate jets, and corporate aircraft hangar at Detroit Metropolitan Wayne County Airport, which the company said were no longer valuable to the company's business. A GM spokesman said that the company had found itself unable to escape the lease in 2008 when it had tried to.<sup id="cite_ref-Pettersso_8-1" class="reference"><a href="#cite_note-Pettersso-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>On June 1, 2009, the court gave interim approval to GM's request to borrow $15 billion as <a href="/wiki/Debtor-in-possession_financing" title="Debtor-in-possession financing">debtor-in-possession financing</a>, the company only having $2 billion cash in hand. The United States Treasury had argued in court that it was the only source of such debtor in possession funding, and that without the money from the loan General Motors would have no option but <a href="/wiki/Liquidation" title="Liquidation">liquidation</a>. Other motions in the first-day hearing included motions to approve payments to key suppliers and to employees and distributors who are in possession of goods manufactured for General Motors. All motions passed in court without substantial objection.<sup id="cite_ref-Reuters2_9-1" class="reference"><a href="#cite_note-Reuters2-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Scinta_10-0" class="reference"><a href="#cite_note-Scinta-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>The case schedule laid out by the court was as follows:<sup id="cite_ref-Scinta_10-1" class="reference"><a href="#cite_note-Scinta-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p> <ul><li>June 19, 2009: Deadline for filing all objections to the sale of General Motors.</li> <li>June 22, 2009: Deadline for making competing bids in the auction of General Motors' assets.</li> <li>June 25, 2009: Final hearing on the bankruptcy loan.</li> <li>July 10, 2009: Deadline for completion of the sale, requested by the U.S. Treasury and General Motors.<sup id="cite_ref-Reuters2_9-2" class="reference"><a href="#cite_note-Reuters2-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Scinta_10-2" class="reference"><a href="#cite_note-Scinta-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading3"><h3 id="Failed_sale_of_Hummer">Failed sale of Hummer</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=4" title="Edit section: Failed sale of Hummer"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>On June 1, 2009, GM announced that the <a href="/wiki/Hummer" title="Hummer">Hummer</a> brand would be discontinued. The following day GM announced that it had reached a deal to sell the brand to an undisclosed buyer.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> Later, on June 2, 2009, the buyer was disclosed to be Chinese road equipment manufacturer <a href="/wiki/Tengzhong" title="Tengzhong">Tengzhong</a>.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Tengzhong itself confirmed the deal on their website the same day.<sup id="cite_ref-Sichuan_Tengzhong-Hummer_Deal-2009-06-02_15-0" class="reference"><a href="#cite_note-Sichuan_Tengzhong-Hummer_Deal-2009-06-02-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> The proposed transaction was scheduled to close in the third quarter of 2009, subject to customary closing conditions and regulatory approvals; financial terms of the agreement were not disclosed.<sup id="cite_ref-Sichuan_Tengzhong-Hummer_Deal-2009-06-02_15-1" class="reference"><a href="#cite_note-Sichuan_Tengzhong-Hummer_Deal-2009-06-02-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>Chinese regulators refused to allow for the purchase of the brand and GM decided on February 24, 2010, to retire the brand. Despite the failed sale, GM discussed entertaining interest in part of the Hummer brand, subsequently made no effort in that direction, leaving Hummer to close. </p> <div class="mw-heading mw-heading3"><h3 id="Failed_sale_of_Saturn">Failed sale of Saturn</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=5" title="Edit section: Failed sale of Saturn"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>On June 5, 2009, GM announced that the <a href="/wiki/Saturn_Corporation" title="Saturn Corporation">Saturn</a> brand would be sold to the <a href="/wiki/Penske_Automotive_Group" title="Penske Automotive Group">Penske Automotive Group</a>.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> GM would continue building the <a href="/wiki/Saturn_Aura" title="Saturn Aura">Aura</a>, <a href="/wiki/Saturn_Outlook" title="Saturn Outlook">Outlook</a> and <a href="/wiki/Saturn_Vue" title="Saturn Vue">Vue</a> for Penske for two years. However, the Penske deal failed and the Saturn division became defunct. </p> <div class="mw-heading mw-heading3"><h3 id="Sale_of_Saab_to_Spyker_Cars">Sale of Saab to Spyker Cars</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=6" title="Edit section: Sale of Saab to Spyker Cars"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>On June 16, 2009, it was announced that <a href="/wiki/Koenigsegg" title="Koenigsegg">Koenigsegg</a> and a group of Norwegian investors planned to acquire the <a href="/wiki/Saab_Automobile" title="Saab Automobile">Saab</a> brand from <a href="/wiki/General_Motors" title="General Motors">General Motors</a>. GM would continue to supply architecture and powertrain technology for an unspecified amount of time.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> It also becomes the last brand/subsidiary from GM to be sold (<a href="/wiki/Hummer" title="Hummer">Hummer</a> was first, followed by <a href="/wiki/Saturn_Corporation" title="Saturn Corporation">Saturn</a>). The deal failed on November 24, 2009.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> GM, however, requested <a href="/wiki/Spyker_Cars" title="Spyker Cars">Spyker Cars</a> to acquire Saab from MLC a few weeks later. But however, MLC announced it would close Saab on December 19, 2009, although this plan was later reversed. Motors Liquidation Company had until January 7, 2010, for the deadline of the revised bid. The sale of Saab to Spyker was approved on January 26, 2010,<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> and completed on February 23, 2010.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Franchise_dealership_consolidation_controversy">Franchise dealership consolidation controversy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=7" title="Edit section: Franchise dealership consolidation controversy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Since the early 1990s, GM had been trying to close dealership locations under its Project 2000.<sup id="cite_ref-:0_21-0" class="reference"><a href="#cite_note-:0-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> At the time, GM had about 9,000 <a href="/wiki/Franchising" title="Franchising">franchise</a> dealers nationwide, most selling a single brand. Many of these locations sold few vehicles and supporting them was costly for GM.<sup id="cite_ref-:0_21-1" class="reference"><a href="#cite_note-:0-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Under Project 2000, GM would eliminate or relocate dealerships, and also focused on establishing multi-brand locations, selling Buick, Pontiac and GMC vehicles or Cadillac, Hummer and Saab vehicles. The program was controversial with dealers, many who didn't want to close their dealership or sell their franchise rights.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p><p>However, Section 363 of the Federal Bankruptcy Code allowed GM to force thousands of dealerships to forfeit their franchise rights. Dealers accused GM of <a href="/wiki/Fraud" title="Fraud">fraud</a> and <a href="/wiki/Theft" title="Theft">theft</a> and formed the <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090827110116/http://www.hometownautodealers.org/">Committee to Restore Dealer Rights</a>. The group helped draft <a href="/wiki/Automobile_Dealer_Economic_Rights_Restoration_Act" title="Automobile Dealer Economic Rights Restoration Act">HR 2743</a> in 2009, which asserted the action taken by GM to consolidate its dealer network without compensation was illegal. However, HR 2743 died in committee, and was never reintroduced.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Sale_of_good_assets_to_New_GM">Sale of good assets to New GM</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=8" title="Edit section: Sale of good assets to New GM"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>GM's assets were sold in a <a href="/wiki/Title_11_of_the_United_States_Code" title="Title 11 of the United States Code">section 363 sale</a>.<sup id="cite_ref-Reuters2_9-3" class="reference"><a href="#cite_note-Reuters2-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-GM_Bankruptcy_Press_Release-2009-06-01_25-0" class="reference"><a href="#cite_note-GM_Bankruptcy_Press_Release-2009-06-01-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Pleading-Sale_to_VAH_LLC-2009-06-01_26-0" class="reference"><a href="#cite_note-Pleading-Sale_to_VAH_LLC-2009-06-01-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Business_Week-AP-Beck-2009-06-02_27-0" class="reference"><a href="#cite_note-Business_Week-AP-Beck-2009-06-02-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> Because the price that these assets were expected to sell for was very high, there was expected to be only one bidder in the auction, a new company NGMCO Inc.<sup id="cite_ref-publish.media.gm.com_29-0" class="reference"><a href="#cite_note-publish.media.gm.com-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> This company had been formed by the United States government with a 60% stake, the federal government of <a href="/wiki/Government_of_Canada" title="Government of Canada">Canada</a> and provincial government of <a href="/wiki/Government_of_Ontario" title="Government of Ontario">Ontario</a> with a 12% stake, the <a href="/wiki/United_Auto_Workers" title="United Auto Workers">United Auto Workers</a> and <a href="/wiki/Canadian_Auto_Workers" title="Canadian Auto Workers">Canadian Auto Workers</a> unions<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> with a 17.5% stake, and the unsecured bondholders of General Motors with a 10% stake.<sup id="cite_ref-Reuters2_9-4" class="reference"><a href="#cite_note-Reuters2-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> "Old GM" was renamed Motors Liquidation Company.<sup id="cite_ref-NYT-Maynard-2009-07-10_31-0" class="reference"><a href="#cite_note-NYT-Maynard-2009-07-10-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p><p>A creditor meeting, at the <a href="/wiki/New_York_Hilton" class="mw-redirect" title="New York Hilton">New York Hilton</a>, held by the <a href="/wiki/United_States_Trustee_Program" title="United States Trustee Program">United States Trustee Program</a>, was scheduled for June 3, 2009.<sup id="cite_ref-Scinta_10-3" class="reference"><a href="#cite_note-Scinta-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>On July 10, 2009, the purchase of the ongoing operational assets and trade name of "old GM" was completed and the purchasing entity, "NGMCO Inc",<sup id="cite_ref-publish.media.gm.com_29-1" class="reference"><a href="#cite_note-publish.media.gm.com-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> changed its name to "General Motors Company LLC."<sup id="cite_ref-NYT-Maynard-2009-07-10_31-1" class="reference"><a href="#cite_note-NYT-Maynard-2009-07-10-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-NYT-Merced-2009-07-10_32-0" class="reference"><a href="#cite_note-NYT-Merced-2009-07-10-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> The new GM held an IPO on November 17, 2010, that raised an estimated $20.1 billion.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>By December 2013, the US government sold the last of its GM stock.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> By February 2015, the Ontario government sold the last of its 4% stake in GM,<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> and by April 2015, the Canadian federal government sold the last of its own 8% GM stake.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> </p><p>The "new" GM acquired most of the brands and the good assets of the old GM, including the <a href="/wiki/Buick" title="Buick">Buick</a>, <a href="/wiki/Cadillac" title="Cadillac">Cadillac</a>, <a href="/wiki/Chevrolet" title="Chevrolet">Chevrolet</a>, <a href="/wiki/GMC_(automobile)" title="GMC (automobile)">GMC</a>, <a href="/wiki/GM_Daewoo" class="mw-redirect" title="GM Daewoo">GM Daewoo</a>, <a href="/wiki/Holden" title="Holden">Holden</a>, <a href="/wiki/Opel" title="Opel">Opel</a>, <a href="/wiki/Pontiac_(automobile)" title="Pontiac (automobile)">Pontiac</a>, <a href="/wiki/SAIC-GM" title="SAIC-GM">SAIC-GM</a>, <a href="/wiki/SAIC-GM-Wuling" title="SAIC-GM-Wuling">SAIC-GM-Wuling</a>, and <a href="/wiki/Vauxhall_Motors" title="Vauxhall Motors">Vauxhall</a> brands. Pontiac was quickly phased out by October 31, 2010, GM Daewoo was renamed <a href="/wiki/GM_Korea" title="GM Korea">GM Korea</a> in 2011 and the <a href="/wiki/Daewoo_Motors" title="Daewoo Motors">Daewoo</a> brand was retired, Opel and Vauxhall were sold to <a href="/wiki/Groupe_PSA" class="mw-redirect" title="Groupe PSA">Groupe PSA</a> in 2017, and Holden was closed by the end of 2020. </p> <div class="mw-heading mw-heading3"><h3 id="The_end_of_MLC">The end of MLC</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=9" title="Edit section: The end of MLC"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>MLC exited bankruptcy on March 31, 2011, and was immediately carved into four separate trusts; the first to settle the claims of <a href="/wiki/Unsecured_creditor" title="Unsecured creditor">unsecured creditors</a> of MLC (General Unsecured Creditors Trust); the second (<a href="/wiki/RACER_Trust" title="RACER Trust">RACER</a>) to manage, perform environmental activities at, and ultimately dispose of certain remaining MLC real and personal property assets; the third to manage <a href="/wiki/Asbestos_litigation" class="mw-redirect" title="Asbestos litigation">asbestos-related claims</a> against MLC (Asbestos Personal Injury Trust); and the fourth for litigation claims against MLC (Action Avoidance Trust).<sup id="cite_ref-rtr_1-1" class="reference"><a href="#cite_note-rtr-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=10" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-rtr-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-rtr_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-rtr_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.reuters.com/article/oldgm-exit-idUSN3121109620110331?feedType=RSS&feedName=cyclicalConsumerGoodsSector&rpc=43">"Motors Liquidation Company carved into four trusts"</a>. reuters.com. March 31, 2011. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20150924152144/http://www.reuters.com/article/2011/03/31/oldgm-exit-idUSN3121109620110331?feedType=RSS&feedName=cyclicalConsumerGoodsSector&rpc=43">Archived</a> from the original on September 24, 2015<span class="reference-accessdate">. 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Sichuan Tengzhong of China - Jun. 2, 2009"</a>. Money.cnn.com<span class="reference-accessdate">. Retrieved <span class="nowrap">December 17,</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Who+bought+Hummer%3F+Sichuan+Tengzhong+of+China+-+Jun.+2%2C+2009&rft.date=2009-06-02&rft.au=Aaron+Smith&rft_id=https%3A%2F%2Fmoney.cnn.com%2F2009%2F06%2F02%2Fnews%2Fcompanies%2Fgm_hummer%2Findex.htm%3Fpostversion%3D2009060207&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMotors+Liquidation+Company" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.nbcnews.com/id/wbna31059625">"Chinese company to buy Hummer from GM - Autos- NBC News"</a>. 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Retrieved <span class="nowrap">December 17,</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Chinese+company+to+buy+Hummer+from+GM+-+Autos-+NBC+News&rft.pub=NBC+News&rft.date=2009-06-24&rft_id=https%3A%2F%2Fwww.nbcnews.com%2Fid%2Fwbna31059625&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMotors+Liquidation+Company" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBradsherBunkley2009" class="citation news cs1">Bradsher, Keith; Bunkley, Nick (June 3, 2009). <a rel="nofollow" class="external text" href="https://www.nytimes.com/2009/06/03/business/03auto.html?_r=1&hp">"Chinese Company Buying G.M.'s Hummer Brand"</a>. <i>The New York Times</i><span class="reference-accessdate">. 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Archived from <a rel="nofollow" class="external text" href="http://www.sctengzhong.com:8080/tengzhong/weben/newn.jsp?id=1158">the original</a> on June 8, 2009<span class="reference-accessdate">. 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Retrieved <span class="nowrap">December 17,</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=GM+to+sell+Saturn+to+Penske+-+Jun.+5%2C+2009&rft.date=2009-06-05&rft.au=David+Goldman&rft.au=Peter+Valdes-Dapena&rft_id=https%3A%2F%2Fmoney.cnn.com%2F2009%2F06%2F05%2Fnews%2Fcompanies%2Fsaturn_penske%2F%3Fpostversion%3D2009060511&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMotors+Liquidation+Company" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGoldstein2009" class="citation web cs1">Goldstein, Steve (June 16, 2009). <a rel="nofollow" class="external text" href="http://www.marketwatch.com/story/gm-koenigsegg-reach-tentative-deal-on-saab">"GM, Koenigsegg reach tentative Saab deal"</a>. <i>MarketWatch.com</i><span class="reference-accessdate">. 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March 31, 2011<span class="reference-accessdate">. Retrieved <span class="nowrap">December 30,</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Reuters&rft.atitle=UPDATE+1-Old+GM+exits+Chapter+11%2C+carved+into+four+trusts&rft.date=2011-03-31&rft_id=https%3A%2F%2Fwww.reuters.com%2Farticle%2Foldgm-exit-idUSN3121109620110331&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMotors+Liquidation+Company" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=11" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Goolsbee, Austan D., and Alan B. Krueger. "A retrospective look at rescuing and restructuring General Motors and Chrysler." <i>Journal of Economic Perspectives</i> 29.2 (2015): 3-24. <a rel="nofollow" class="external text" href="https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.29.2.3">online</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Motors_Liquidation_Company&action=edit&section=12" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20150802030810/https://mlcguctrust.com/Page.aspx?Name=Home">Official website</a> (archived)</li> <li><a rel="nofollow" class="external text" href="http://www.motorsliquidationdocket.com/">Motors Liquidation Company Claim Agent: Bankruptcy paperwork and related documents</a></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090407084946/http://www.whitehouse.gov/assets/documents/GM_Viability_Assessment.pdf">"GM Viability Assessment"</a> <span class="cs1-format">(PDF)</span>. Executive office of the President of the United States. March 30, 2009. Archived from <a rel="nofollow" class="external text" href="https://www.whitehouse.gov/assets/documents/GM_Viability_Assessment.pdf">the original</a> <span class="cs1-format">(PDF)</span> on April 7, 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">June 4,</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=GM+Viability+Assessment&rft.date=2009-03-30&rft_id=https%3A%2F%2Fwww.whitehouse.gov%2Fassets%2Fdocuments%2FGM_Viability_Assessment.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMotors+Liquidation+Company" class="Z3988"></span> Assessment of the GM plan of February 17, 2009, presented to the U.S. Government</li> <li><a rel="nofollow" class="external text" href="https://www.theguardian.com/business/2009/jun/01/general-motors-bankruptcy-design">Bad Design the Driving Force Behind GM's Malaise</a> by Jonathan Glancey, <i>The Guardian</i>, June 1, 2009</li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output 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class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Buick" title="Buick">Buick</a></li> <li><a href="/wiki/Cadillac" title="Cadillac">Cadillac</a></li> <li><a href="/wiki/Chevrolet" title="Chevrolet">Chevrolet</a></li> <li><a href="/wiki/GMC_(marque)" class="mw-redirect" title="GMC (marque)">GMC</a> <ul><li><a href="/wiki/GMC_Denali" title="GMC Denali">Denali</a></li> <li><a href="/wiki/Hummer" title="Hummer">Hummer</a></li></ul></li> <li><a href="/wiki/BrightDrop" title="BrightDrop">BrightDrop</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Service brands</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/ACDelco" title="ACDelco">ACDelco</a></li> <li><a href="/wiki/BrightDrop" title="BrightDrop">BrightDrop</a></li> <li><a href="/wiki/Chevrolet_Performance" title="Chevrolet Performance">Chevrolet Performance</a></li> <li><a href="/wiki/Cruise_(autonomous_vehicle)" title="Cruise (autonomous vehicle)">Cruise</a></li> <li><a href="/wiki/DEXRON" title="DEXRON">Dexron</a></li> <li><a href="/wiki/GM_Certified_Service" title="GM Certified Service">GM Certified Service</a></li> <li><a href="/wiki/GM_Defense" title="GM Defense">GM Defense</a></li> <li><a href="/wiki/GM_Financial" title="GM Financial">GM Financial</a></li> <li><a href="/wiki/OnStar" title="OnStar">OnStar</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Global subsidiaries</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/General_Motors_de_Argentina" title="General Motors de Argentina">Argentina</a></li> <li><a href="/wiki/General_Motors_do_Brasil" title="General Motors do Brasil">Brazil</a></li> <li><a href="/wiki/General_Motors_Canada" title="General Motors Canada">Canada</a></li> <li><a href="/wiki/General_Motors_de_Chile" title="General Motors de Chile">Chile</a></li> <li><a href="/wiki/GM_Colmotores" title="GM Colmotores">Colombia</a></li> <li><a href="/wiki/General_Motors_Egypt" title="General Motors Egypt">Egypt</a></li> <li><a href="/wiki/General_Motors_Japan" title="General Motors Japan">Japan</a></li> <li><a href="/wiki/General_Motors_de_M%C3%A9xico" title="General Motors de México">Mexico</a></li> <li><a href="/wiki/General_Motors_New_Zealand" title="General Motors New Zealand">New Zealand</a></li> <li><a href="/wiki/General_Motors#Australia" title="General Motors">GM Specialty Vehicles</a></li> <li><a href="/wiki/Cadillac_Europe" title="Cadillac Europe">Cadillac Europe</a></li></ul> </div></td></tr></tbody></table><div></div></td><td class="noviewer navbox-image" rowspan="8" style="width:1px;padding:0 0 0 2px"><div><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/General_Motors_%282021%29.svg/90px-General_Motors_%282021%29.svg.png" decoding="async" width="90" height="90" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/General_Motors_%282021%29.svg/135px-General_Motors_%282021%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/General_Motors_%282021%29.svg/180px-General_Motors_%282021%29.svg.png 2x" data-file-width="496" data-file-height="496" /></span></span></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Shareholdings</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/DMAX_(engines)" title="DMAX (engines)">DMAX</a> <small>(60%)</small></li> <li><a href="/wiki/GM_Korea" title="GM Korea">GM Korea</a> <small>(77%)</small></li> <li><a href="/wiki/HRL_Laboratories" title="HRL Laboratories">HRL Laboratories</a> <small>(50%)</small></li> <li><a href="/wiki/Industries_M%C3%A9caniques_Maghr%C3%A9bines" title="Industries Mécaniques Maghrébines">Industries Mécaniques Maghrébines</a> <small>(20%)</small></li> <li><a href="/wiki/SAIC-GM" title="SAIC-GM">SAIC-GM</a> <small>(50%)</small></li> <li><a href="/wiki/SAIC-GM-Wuling" title="SAIC-GM-Wuling">SAIC-GM-Wuling</a> <small>(44%)</small> <ul><li><small><a href="/wiki/Baojun" title="Baojun">Baojun</a></small></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Products and<br />technologies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_GM_platforms" class="mw-redirect" title="List of GM platforms">Platforms</a></li> <li><a href="/wiki/List_of_GM_transmissions" title="List of GM transmissions">Transmissions</a></li> <li><a href="/wiki/Category:General_Motors_hybrid_technologies" title="Category:General Motors hybrid technologies">Hybrids</a></li> <li><a href="/wiki/Category:General_Motors_vehicles" title="Category:General Motors vehicles">Vehicles</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/List_of_General_Motors_engines" class="mw-redirect" title="List of General Motors engines">Engines</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Straight-3" class="mw-redirect" title="Straight-3">I3</a> <ul><li><small><a href="/wiki/GM_Family_0_engine" title="GM Family 0 engine">Family 0</a></small></li> <li><small><a href="/wiki/GM_Small_Gasoline_Engine" class="mw-redirect" title="GM Small Gasoline Engine">SGE</a></small></li> <li><small><a href="/wiki/GM_E-Turbo_engine" title="GM E-Turbo engine">E-Turbo</a></small></li></ul></li> <li><a href="/wiki/Straight-4" class="mw-redirect" title="Straight-4">I4</a> <ul><li><small><a href="/wiki/GM_Family_0_engine" title="GM Family 0 engine">Family 0</a></small></li> <li><small><a href="/wiki/GM_Small_Gasoline_Engine" class="mw-redirect" title="GM Small Gasoline Engine">SGE</a></small></li> <li><small><a href="/wiki/GM_Family_1_engine" title="GM Family 1 engine">Family 1 </a></small></li> <li><small><a href="/wiki/GM_Medium_Gasoline_Engine" title="GM Medium Gasoline Engine">MGE</a></small></li> <li><small><a href="/wiki/Family_II_engine" class="mw-redirect" title="Family II engine">Family II</a></small></li> <li><small><a href="/wiki/GM_Ecotec_engine" title="GM Ecotec engine">Ecotec</a></small></li></ul></li> <li><a href="/wiki/V6_engine" title="V6 engine">V6</a> <ul><li><small><a href="/wiki/GM_High_Feature_engine" title="GM High Feature engine">High Feature</a></small></li> <li><small><a href="/wiki/Chevrolet_90%C2%B0_V6_engine#Generation_V" title="Chevrolet 90° V6 engine">Gen V</a></small></li></ul></li> <li><a href="/wiki/V8_engine" title="V8 engine">V8</a> <ul><li><small><a href="/wiki/LS_based_GM_small-block_engine#Generation_V" class="mw-redirect" title="LS based GM small-block engine">Gen V</a></small></li> <li><small><a href="/wiki/Chevrolet_Gemini_small-block_engine" title="Chevrolet Gemini small-block engine">Gemini V8</a></small></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Electric</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/General_Motors_EV1" title="General Motors EV1">EV1</a></li> <li><a href="/wiki/General_Motors_BEV2_platform" title="General Motors BEV2 platform">BEV2</a></li> <li><a href="/wiki/Ultium" title="Ultium">Ultium</a> <ul><li><a href="/wiki/General_Motors_BEV3_platform" title="General Motors BEV3 platform">BEV3</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Former divisions,<br />joint ventures<br />and subsidiaries</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Allison_Engine_Company" title="Allison Engine Company">Allison Engine</a> <small>(1929–1995)</small></li> <li><a href="/wiki/Allison_Transmission" title="Allison Transmission">Allison Transmission</a> <small>(1929–2007)</small></li> <li><a href="/wiki/Ally_Financial" title="Ally Financial">Ally Financial</a> <small>(1919-2013)</small></li> <li><a href="/wiki/Atlantic_Aircraft" title="Atlantic Aircraft">Atlantic Aircraft</a></li> <li><a href="/wiki/Bendix_Corporation" title="Bendix Corporation">Bendix</a> <small> (24%) (1924–1948)</small></li> <li><a href="/wiki/Chevrolet_Europe" title="Chevrolet Europe">Chevrolet Europe</a> <small>(2005-2016)</small></li> <li><a href="/wiki/Chevrolet-Saturn_of_Harlem" title="Chevrolet-Saturn of Harlem">Chevrolet-Saturn of Harlem</a> <span style="font-size:85%;">(2006–2011)</span></li> <li><a href="/wiki/Cleveland_Diesel" class="mw-redirect" title="Cleveland Diesel">Cleveland Diesel</a> <small>(1938–1962)</small></li> <li><a href="/wiki/Dayton-Wright" class="mw-redirect" title="Dayton-Wright">Dayton-Wright</a> <small>(1919–1923)</small></li> <li><a href="/wiki/Delco_Electronics" title="Delco Electronics">Delco Electronics</a></li> <li><a href="/wiki/Aptiv" title="Aptiv">Delphi</a> <small>(1994–1999)</small></li> <li><a href="/wiki/Delta_Motor_Corporation" title="Delta Motor Corporation">Delta Motor Corporation</a> <small>(1997-2004)</small></li> <li><a href="/wiki/Detroit_Diesel" title="Detroit Diesel">Detroit Diesel</a> <small>(1938–1988)</small></li> <li><a href="/wiki/DirecTV" title="DirecTV">DirecTV</a> <small>(1994–2003)</small></li> <li><a href="/wiki/Electro-Motive_Diesel" title="Electro-Motive Diesel">Electro-Motive Diesel</a> <small>(1930–2004)</small></li> <li><a href="/wiki/Electronic_Data_Systems" title="Electronic Data Systems">Electronic Data Systems</a> <small>(1984–1996)</small></li> <li><a href="/wiki/Euclid_Trucks" title="Euclid Trucks">Euclid Trucks</a> <small>(1953–1968)</small></li> <li><a href="/wiki/FAW-GM" title="FAW-GM">FAW-GM</a> <small>(2009–2019)</small></li> <li><a href="/wiki/Fisher_Body" title="Fisher Body">Fisher Body</a> <small>(1925–1984)</small></li> <li><a href="/wiki/Fleetwood_Metal_Body" title="Fleetwood Metal Body">Fleetwood Metal Body</a> <small>(1925–1984)</small></li> <li><a href="/wiki/Frigidaire" title="Frigidaire">Frigidaire</a> <small>(1919–1980)</small></li> <li><a href="/wiki/Ghandhara_Industries_Limited" title="Ghandhara Industries Limited">Ghandhara Industries</a> <small>(1953–1963)</small></li> <li><a href="/wiki/GM-AvtoVAZ" title="GM-AvtoVAZ">GM-AvtoVAZ</a> <small>(2001–2019)</small></li> <li><a href="/wiki/General_Motors_Diesel" title="General Motors Diesel">GM Diesel</a> <small>(1949–1969)</small></li> <li><a href="/wiki/General_Motors_Diesel_Division" title="General Motors Diesel Division">GM Diesel Division</a> <small>(1938–1987)</small></li> <li><a href="/wiki/General_Motors_Europe" title="General Motors Europe">GM Europe</a> <small>(1986–2017)</small></li> <li><a href="/wiki/General_Motors_India" title="General Motors India">GM India</a> <small>(1995–2020)</small></li> <li><a href="/wiki/General_Motors_South_Africa" title="General Motors South Africa">GM South Africa</a> <small>(1913–2017)</small></li> <li><a href="/wiki/General_Motors_Thailand" title="General Motors Thailand">GM Thailand</a> <small>(2000–2020)</small></li> <li><a href="/wiki/UzAuto_Motors" title="UzAuto Motors">GM Uzbekistan</a> <small>(2008–2019)</small></li> <li><a href="/wiki/GM_Vietnam" title="GM Vietnam">GM Vietnam</a> <small>(1993–2018)</small></li> <li><a href="/wiki/GMAC_Real_Estate" title="GMAC Real Estate">GMAC Real Estate</a> <small>(1998–2008)</small></li> <li><a href="/wiki/Volvo_Trucks" title="Volvo Trucks">GMC Heavy Trucks</a></li> <li><a href="/wiki/Holden" title="Holden">Holden</a> <small>(1948–2020)</small> <ul><li><small><a href="/wiki/Holden_Special_Vehicles" title="Holden Special Vehicles">Holden Special Vehicles</a></small></li></ul></li> <li><a href="/wiki/Hughes_Aircraft" class="mw-redirect" title="Hughes Aircraft">Hughes Aircraft</a> <small>(1985–1997)</small></li> <li><a href="/wiki/Hughes_Electronics" title="Hughes Electronics">Hughes Electronics</a> <small>(1985–1997)</small></li> <li><a href="/wiki/Hughes_Network_Systems" title="Hughes Network Systems">Hughes Network Systems</a> <small>(1987–2003)</small> <ul><li><a href="/wiki/Hughes_Network_Systems" title="Hughes Network Systems">HughesNet</a> <small>(1996–2003)</small></li></ul></li> <li><a href="/wiki/Kettering_University" title="Kettering University">Kettering University</a></li> <li><a href="/wiki/Maven_(car_sharing)" title="Maven (car sharing)">Maven</a> <small>(2016–2020)</small></li> <li><a href="/wiki/National_City_Lines" title="National City Lines">National City Lines</a></li> <li><a href="/wiki/NUMMI" title="NUMMI">NUMMI</a> <small>(1984–2009)</small></li> <li><a href="/wiki/New_Venture_Gear" title="New Venture Gear">New Venture Gear</a> <small>(36%, 1990–2002)</small></li> <li><a href="/wiki/Nexteer_Automotive" title="Nexteer Automotive">Nexteer</a> <small>(2009–2010)</small></li> <li><a href="/wiki/North_American_Aviation" title="North American Aviation">North American Aviation</a> <small>(1933–1948)</small></li> <li><a href="/wiki/Nuvell_Financial_Services" title="Nuvell Financial Services">Nuvell</a> <small>(1997–2008)</small></li> <li><a href="/wiki/Opel" title="Opel">Opel</a> <small>(1931–2017)</small></li> <li><a href="/wiki/PanAmSat" title="PanAmSat">PanAmSat</a> <small>(1995–2003)</small></li> <li><a href="/wiki/Remy_Electric" class="mw-redirect" title="Remy Electric">Remy Electric</a> <small>(1918–1994)</small></li> <li><a href="/wiki/Rochester_Products_Division" title="Rochester Products Division">Rochester Products</a></li> <li><a href="/wiki/Terex" title="Terex">Terex</a></li> <li><a href="/wiki/United_Australian_Automobile_Industries" title="United Australian Automobile Industries">United Australian</a> <small>(1989–1996)</small></li> <li><a href="/wiki/Vauxhall_Motors" title="Vauxhall Motors">Vauxhall</a> <small>(1926–2017)</small></li> <li><a href="/wiki/Yellow_Coach_Manufacturing_Company" title="Yellow Coach Manufacturing Company">Yellow Coach</a> <small>(1925–1943)</small></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:General_Motors_facilities" title="Category:General Motors facilities">Facilities</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/224_West_57th_Street" title="224 West 57th Street">GM Building (Broadway)</a></li> <li><a href="/wiki/Cadillac_Place" title="Cadillac Place">GM Building (Detroit)</a></li> <li><a href="/wiki/General_Motors_Building_(Manhattan)" title="General Motors Building (Manhattan)">GM Building (Manhattan)</a></li> <li><a href="/wiki/General_Motors_Technical_Center" title="General Motors Technical Center">GM Technical Center</a></li> <li><a href="/wiki/General_Motors_Proving_Grounds" class="mw-redirect" title="General Motors Proving Grounds">GM Proving Grounds</a></li> <li><a href="/wiki/List_of_General_Motors_factories" title="List of General Motors factories">Factories (list)</a></li> <li><a href="/wiki/Renaissance_Center" title="Renaissance Center">Renaissance Center</a></li> <li><a href="/wiki/Argonaut_Building" title="Argonaut Building">General Motors Research Laboratory</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:General_Motors_people" title="Category:General Motors people">People</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/William_C._Durant" title="William C. Durant">William C. Durant</a> (Founder)</li> <li><a href="/wiki/Mary_Barra" title="Mary Barra">Mary Barra</a></li> <li><a href="/wiki/Alfred_P._Sloan" title="Alfred P. Sloan">Alfred P. Sloan</a></li> <li><a href="/wiki/Tim_Solso" title="Tim Solso">Tim Solso</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Sponsorship</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/World_of_Motion" title="World of Motion">World of Motion</a></li> <li><a href="/wiki/Test_Track" title="Test Track">Test Track</a> <small>(1999–2012 under all of GM, Chevrolet only since 2012)</small></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related topics</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_General_Motors" title="History of General Motors">History</a> <ul><li><a href="/wiki/General_Motors_companion_make_program" title="General Motors companion make program">Companion make program</a></li> <li><a href="/wiki/General_Motors_ignition_switch_recalls" title="General Motors ignition switch recalls">Ignition switch recalls</a></li> <li><a class="mw-selflink selflink">Motors Liquidation Company</a></li> <li><a href="/wiki/General_Motors_Motorama" title="General Motors Motorama">Motorama</a></li> <li><a href="/wiki/General_Motors_Chapter_11_reorganization" title="General Motors Chapter 11 reorganization">Reorganization</a></li> <li><a href="/wiki/General_Motors_streetcar_conspiracy" title="General Motors streetcar conspiracy">Streetcar conspiracy</a></li> <li><a href="/wiki/United_Auto_Workers_(UAW)_strike_of_1945%E2%80%931946" class="mw-redirect" title="United Auto Workers (UAW) strike of 1945–1946">1945–46 strike</a></li> <li><a href="/wiki/2007_General_Motors_strike" title="2007 General Motors strike">2007 strike</a></li> <li><a href="/wiki/2019_General_Motors_strike" title="2019 General Motors strike">2019 strike</a></li></ul></li> <li><a href="/wiki/Commercial_Utility_Cargo_Vehicle" title="Commercial Utility Cargo Vehicle">Commercial Utility Cargo Vehicle</a></li> <li><i><a href="/wiki/Concept_of_the_Corporation" title="Concept of the Corporation">Concept of the Corporation</a></i></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="3"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:General_Motors" title="Category:General Motors">Category</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Commons page"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" decoding="async" width="12" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/18px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/24px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></span></span> <a href="https://commons.wikimedia.org/wiki/Category:General_Motors" class="extiw" title="commons:Category:General Motors">Commons</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Great_Recession" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Great_Recession" title="Template:Great Recession"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Great_Recession" title="Template talk:Great Recession"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Great_Recession" title="Special:EditPage/Template:Great Recession"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Great_Recession" style="font-size:114%;margin:0 4em"><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">By region</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Recession_in_Africa" title="Great Recession in Africa">Africa</a></li> <li><a href="/wiki/Great_Recession_in_the_Americas" title="Great Recession in the Americas">Americas</a> <ul><li><a href="/wiki/Great_Recession_in_the_United_States" title="Great Recession in the United States">United States</a></li> <li><a href="/wiki/Great_Recession_in_South_America" title="Great Recession in South America">South America</a></li></ul></li> <li><a href="/wiki/Great_Recession_in_Asia" title="Great Recession in Asia">Asia</a></li> <li><a href="/wiki/Great_Recession_in_Europe" title="Great Recession in Europe">Europe</a> <ul><li><a href="/wiki/2008%E2%80%932011_Icelandic_financial_crisis" title="2008–2011 Icelandic financial crisis">Iceland</a></li></ul></li> <li><a href="/wiki/Great_Recession_in_Oceania" title="Great Recession in Oceania">Oceania</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">United States-specific</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Automotive_industry_crisis_of_2008%E2%80%932010" class="mw-redirect" title="Automotive industry crisis of 2008–2010">Automotive industry crisis</a></li> <li><a href="/wiki/2008%E2%80%932012_California_budget_crisis" title="2008–2012 California budget crisis">California budget crisis</a></li> <li><a href="/wiki/United_States_housing_bubble" class="mw-redirect" title="United States housing bubble">Housing bubble</a></li> <li><a href="/wiki/United_States_housing_market_correction" class="mw-redirect" title="United States housing market correction">Housing market correction</a></li> <li><a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">Subprime mortgage crisis</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Banking losses and fraud</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Libor_scandal" title="Libor scandal">Libor scandal</a> <ul><li><a href="/wiki/Tom_Hayes_(trader)" title="Tom Hayes (trader)">Tom Hayes</a></li></ul></li> <li><a href="/wiki/2008_Soci%C3%A9t%C3%A9_G%C3%A9n%C3%A9rale_trading_loss" title="2008 Société Générale trading loss">Société Générale trading loss</a></li> <li><a href="/wiki/Forex_scandal" title="Forex scandal">Forex scandal</a></li> <li><a href="/wiki/Bernie_Madoff" title="Bernie Madoff">Bernie Madoff</a></li> <li><a href="/wiki/Tom_Petters" title="Tom Petters">Tom Petters</a></li> <li><a href="/wiki/Scott_W._Rothstein" title="Scott W. Rothstein">Scott W. Rothstein</a></li> <li><a href="/wiki/Allen_Stanford" title="Allen Stanford">Allen Stanford</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Government entities</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Consumer_Financial_Protection_Bureau" title="Consumer Financial Protection Bureau">Consumer Financial Protection Bureau</a></li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation" title="Federal Deposit Insurance Corporation">Federal Deposit Insurance Corporation</a></li> <li><a href="/wiki/Federal_Home_Loan_Banks" title="Federal Home Loan Banks">Federal Home Loan Banks</a></li> <li><a href="/wiki/Federal_Housing_Administration" title="Federal Housing Administration">Federal Housing Administration</a></li> <li><a href="/wiki/Federal_Housing_Finance_Agency" title="Federal Housing Finance Agency">Federal Housing Finance Agency</a></li> <li><a href="/wiki/Federal_Housing_Finance_Board" title="Federal Housing Finance Board">Federal Housing Finance Board</a></li> <li><a href="/wiki/Federal_Reserve_System" class="mw-redirect" title="Federal Reserve System">Federal Reserve System</a></li> <li><a href="/wiki/Government_National_Mortgage_Association" title="Government National Mortgage Association">Government National Mortgage Association</a></li> <li><a href="/wiki/National_Asset_Management_Agency" title="National Asset Management Agency">National Asset Management Agency</a></li> <li><a href="/wiki/Office_of_Federal_Housing_Enterprise_Oversight" title="Office of Federal Housing Enterprise Oversight">Office of Federal Housing Enterprise Oversight</a></li> <li><a href="/wiki/Assistant_Secretary_of_the_Treasury_for_Financial_Stability" title="Assistant Secretary of the Treasury for Financial Stability">Office of Financial Stability</a></li> <li><a href="/wiki/UK_Financial_Investments" title="UK Financial Investments">UK Financial Investments</a></li></ul> </div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible autocollapse navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Government_policy_and_spending_responses" style="font-size:114%;margin:0 4em">Government policy and spending responses</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Banking and finance<br /> stability and reform</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Banking_(Special_Provisions)_Act_2008" title="Banking (Special Provisions) Act 2008">Banking (Special Provisions) Act 2008</a></li> <li><a href="/wiki/China%E2%80%93Japan%E2%80%93South_Korea_trilateral_summit" title="China–Japan–South Korea trilateral summit">China–Japan–South Korea trilateral summit</a></li> <li><a href="/wiki/Commercial_Paper_Funding_Facility" title="Commercial Paper Funding Facility">Commercial Paper Funding Facility</a></li> <li><a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd–Frank Wall Street Reform and Consumer Protection Act</a></li> <li><a href="/wiki/Emergency_Economic_Stabilization_Act_of_2008" title="Emergency Economic Stabilization Act of 2008">Emergency Economic Stabilization Act of 2008</a></li> <li><a href="/wiki/Irish_emergency_budget,_2009" class="mw-redirect" title="Irish emergency budget, 2009">Irish emergency budget, 2009</a></li> <li><a href="/wiki/Temporary_Liquidity_Guarantee_Program" title="Temporary Liquidity Guarantee Program">Temporary Liquidity Guarantee Program</a></li> <li><a href="/wiki/Term_Asset-Backed_Securities_Loan_Facility" title="Term Asset-Backed Securities Loan Facility">Term Asset-Backed Securities Loan Facility</a></li> <li><a href="/wiki/Troubled_Asset_Relief_Program" title="Troubled Asset Relief Program">Troubled Asset Relief Program</a></li> <li><a href="/wiki/2008_United_Kingdom_bank_rescue_package" title="2008 United Kingdom bank rescue package">2008 United Kingdom bank rescue package</a></li></ul> </div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th id="Bank_stress_tests" scope="row" class="navbox-group" style="width:1%">Bank stress tests</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2010_European_Union_bank_stress_test" title="2010 European Union bank stress test">EU</a></li> <li><a href="/wiki/2009_Supervisory_Capital_Assessment_Program" title="2009 Supervisory Capital Assessment Program">U.S.</a></li></ul> </div></td></tr></tbody></table><div> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Stimulus and recovery</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0;background: #f7f7f7;"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2008_European_Union_stimulus_plan" title="2008 European Union stimulus plan">2008 European Union stimulus plan</a></li> <li><a href="/wiki/2008%E2%80%932009_Keynesian_resurgence" title="2008–2009 Keynesian resurgence">2008–2009 Keynesian resurgence</a></li> <li><a href="/wiki/American_Recovery_and_Reinvestment_Act_of_2009" title="American Recovery and Reinvestment Act of 2009">American Recovery and Reinvestment Act of 2009</a></li> <li><a href="/wiki/Chinese_economic_stimulus_program" title="Chinese economic stimulus program">Chinese economic stimulus program</a></li> <li><a href="/wiki/Economic_Stimulus_Act_of_2008" title="Economic Stimulus Act of 2008">Economic Stimulus Act of 2008</a></li> <li><a href="/wiki/Fraud_Enforcement_and_Recovery_Act_of_2009" title="Fraud Enforcement and Recovery Act of 2009">Fraud Enforcement and Recovery Act of 2009</a></li> <li><a href="/wiki/Green_New_Deal" title="Green New Deal">Green New Deal</a></li> <li><a href="/wiki/Housing_and_Economic_Recovery_Act_of_2008" title="Housing and Economic Recovery Act of 2008">Housing and Economic Recovery Act of 2008</a></li> <li><a href="/wiki/National_fiscal_policy_response_to_the_Great_Recession" class="mw-redirect" title="National fiscal policy response to the Great Recession">National fiscal policy response to the Great Recession</a></li> <li><a href="/wiki/Zero_interest-rate_policy" title="Zero interest-rate policy">Zero interest-rate policy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Government interventions,<br /> rescues, and acquisitions</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0;background: transparent;"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_banks_acquired_or_bankrupted_during_the_Great_Recession" title="List of banks acquired or bankrupted during the Great Recession">List of banks acquired or bankrupted during the Great Recession</a></li></ul> </div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th id="Non-banking" scope="row" class="navbox-group" style="width:1%">Non-banking</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Chrysler" title="Chrysler">Chrysler</a></li> <li><a href="/wiki/General_Motors" title="General Motors">General Motors</a></li></ul> </div></td></tr></tbody></table><div> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Securities involved <br /> and financial markets</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Auction_rate_security" title="Auction rate security">Auction rate securities</a></li> <li><a href="/wiki/Collateralized_debt_obligation" title="Collateralized debt obligation">Collateralized debt obligations</a></li> <li><a href="/wiki/Collateralized_mortgage_obligation" title="Collateralized mortgage obligation">Collateralized mortgage obligations</a></li> <li><a href="/wiki/Credit_default_swap" title="Credit default swap">Credit default swaps</a></li> <li><a href="/wiki/Mortgage-backed_security" title="Mortgage-backed security">Mortgage-backed securities</a></li> <li><a href="/wiki/Secondary_mortgage_market" title="Secondary mortgage market">Secondary mortgage market</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Social responses</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Tea_Party_protests" title="Tea Party protests">Tea Party protests</a> (United States; c. 2009)</li> <li><a href="/wiki/2009_May_Day_protests" title="2009 May Day protests">2009 May Day protests</a> (Europe, Middle East and North Africa, Asia; 2009)</li> <li><a href="/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a> (MENA; 2010–2012)</li> <li><a href="/wiki/Occupy_movement" title="Occupy movement">Occupy movement</a> (worldwide; 2011–2012) <ul><li><a href="/wiki/Occupy_Wall_Street" title="Occupy Wall Street">Occupy Wall Street</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related topics</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a> <ul><li><a href="/wiki/2008_Central_Asia_energy_crisis" title="2008 Central Asia energy crisis">2008 Central Asia energy crisis</a></li></ul></li> <li><a href="/wiki/Effects_of_the_Great_Recession_on_museums" title="Effects of the Great Recession on museums">Effects of the Great Recession on museums</a></li> <li><a href="/wiki/Decline_of_newspapers" title="Decline of newspapers">Decline of newspapers</a></li> <li><a href="/wiki/2007%E2%80%932008_world_food_price_crisis" title="2007–2008 world food price crisis">2007–2008 world food price crisis</a></li> <li><a href="/wiki/Retail_apocalypse" title="Retail apocalypse">Retail apocalypse</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/European_debt_crisis" title="European debt crisis">European debt crisis</a></li> <li><a href="/wiki/2007%E2%80%932008_financial_crisis" title="2007–2008 financial crisis">2007–2008 financial crisis</a></li> <li><a href="/wiki/List_of_countries_by_public_debt" class="mw-redirect" title="List of countries by public debt">List of countries by public debt</a></li></ul> </div></td></tr></tbody></table></div> <!-- NewPP limit report Parsed by mw‐web.codfw.main‐f69cdc8f6‐tl82v Cached time: 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