Latest News Updates From David Welch

BusinessTechnologyFuel

GM Considers Boosting Stake in Nikola in Reworked Deal

General Motors Co. is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception.

October 2, 2020
GovernmentBusinessTechnologyLogistics

GM CEO Mary Barra to Meet With Ivanka Trump at Job Training Site

General Motors Co. CEO Mary Barra will meet Sept. 2 with President Donald Trump’s daughter and adviser, Ivanka Trump, who is scheduled to tour the automaker’s training center north of Detroit.

September 2, 2020
Business

GM’s CFO Resigns to Join Fintech Startup Stripe

General Motors Co.’s chief financial officer is stepping down after two years to take a job at a financial technology company in an unexpected move prompting the automaker to appoint an acting successor.

August 11, 2020
Business

Hertz Seeks Bankruptcy Loan as Car Rental Volume Slowly Recovers

Hertz Global Holdings Inc. is seeking debtor-in-possession financing more than two months after filing for Chapter 11 protection, reflecting the reality that it still faces trouble ahead if travel doesn’t bounce back.

August 11, 2020
BusinessTechnologyFuel

GM to Build Nationwide EV Charging Network

General Motors Co. is working with electric-vehicle charging operator EVgo Services to build a nationwide fast-charging infrastructure.

July 31, 2020
GovernmentBusiness

Hertz Halts Plan to Sell ‘Worthless’ Stock on SEC Scrutiny

Hertz suspended plans to raise cash by selling new shares that the bankrupt car renter described as potentially “worthless” after its proposal failed to pass muster with regulators.

June 17, 2020
GovernmentBusiness

GM Secures $490 Million US Contract to Make Ventilators

The U.S awarded General Motors Co. and its partner Ventec Life Systems a $489.4 million contract to make 30,000 ventilators by the end of August, finalizing a deal that briefly was a point of contention for President Donald Trump.

April 8, 2020
Business

GM’s Draw-Down Preserves Dividend, Signals Edge Over Ford

General Motors Co. joined Ford Motor Co. in tapping its credit lines to stock up on cash, but the bigger automaker is signaling superiority over its Detroit rival by leaving its dividend intact for now.

March 24, 2020
BusinessLogistics

GM Works to Shield US Truck Plants From Virus Disruption

General Motors Co. is working to maintain the flow of parts to some of its most profitable U.S. plants to keep them from becoming the next factories to be idled due to the coronavirus spreading in China.

February 14, 2020
Business

GM to Rely on Cash-Cow SUVs to Overcome Auto Market Weaknesses

General Motors Co. predicted robust sales of new trucks and big SUV models will help it avert the kind of earnings decline this year that its rivals are bracing for.

February 5, 2020