general motors

Auto executives are spending a lot of time trying to make the case that a turnaround is well under way, and this week's International Auto Show in Detroit showcases what the future holds for General Motors, Ford and Chrysler.

Ford got off to a good start — winning both car and truck of the year — while Chrysler has become opaque.

The new, post-bankruptcy General Motors is launching its first big marketing campaign. To get more consumers behind the wheels of GM cars, the company is offering a money-back guarantee if consumers aren't satisfied.

Customers have 60 days to return the car for a full refund.

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General Motors is preparing to announce a long-awaited decision regarding its European subsidiary Opel. The decision on whether the subsidiary will be sold is being closely watched in Germany, where Opel employs roughly half of its 50,000 European workers at four plants.

The announcement could be made Thursday.

General Motors and Chrysler say they need to trim their network of franchises so when they emerge from bankruptcy proceedings they will be successful.

In a Senate hearing Wednesday, lawmakers questioned whether the companies are abandoning the loyal dealerships and consumers who have supported them.

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A job at General Motors used to mean not having to worry about retirement. The company had promised a good pension and health care for life.

Retirees are losing some of their benefits as the company goes through bankruptcy. Many worry they could lose even more if the big auto maker's fortunes don't turn around quickly.

General Motors says it's confident it can steer a course through bankruptcy court, and emerge as a leaner, more competitive automaker.

The company filed for bankruptcy protection Monday. The federal government is helping GM with another $30 billion in aid.

That will make the government the company's majority shareholder.

General Motors made a new offer Thursday to attract bondholders' support for a quick restructuring. Bondholders are being asked to swap their debt for shares in a new GM.

They'd get 10 percent of the stock — and warrants to buy an additional 15 percent.

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GM share prices have not been this low since the Gret Depression. Investors feared dilution of their stock or bankruptcy as the company approaches the June 1 restructuring deadline.

GM shares dropped to as low as $1.09, the lowest level since April 28, 1933.

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According to news reports, General Motors plans to import Chinese-made vehicles to the U.S. The company will neither confirm nor deny the reports.

With GM dependent on government loans, the UAW describes GM's plan to import cars as "using taxpayer money to subsidize U.S. job losses."

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