General Motors

 On Wednesday a former General Motors now known as Motors Liquidation Company has agreed with the Obama administration to pay $773 million to clean up 89 old plant sites in 14 states to prepare them for new enterprises. This statement is expected to be approved by a bankruptcy judge next year. 

General Motors has started piloting a new app that it to let subscribers to its OnStar vehicle communication system update their Facebook status verbally and to receive text messages audibly.

The corporation has launching the new OnStar applications come in a move to compete with US rival Ford Motor Co, that had partnered with Microsoft over implementation of the Sync vehicle connectivity system that is credited with boosting Ford's sales and its popularity among younger car shoppers.

General Motors has announced its intention to acquire a lender of auto loans AmeriCredit for $3.5 billion. According to company statement this can help it to lease more vehicles and increase sales to consumers with lower credit ratings. 

According to some reports Google is conducting negotiations with General Motors over installing Android into cars for remote unlocking and startup. It is supposed that Android will be integrated into GM’s existing product known as OnStar which will provide a response to the Microsoft/Ford offering, MyFord, which has proved surprisingly popular.

As is known MyFord deploys Microsoft's SYNC technology which is a Windows Embedded desktop behind the steering wheel. Earlier this year the companies added touch control.

According to Reuters, judge Robert Gerberof the U.S. bankruptcy court in Manhattan gave his approval to General Motors Corp`s bankruptcy sale. The move will allow the company's most profitable assets to exit bankruptcy protection under government ownership.

The company had argued that it would be forced to liquidate if the sale was not approved. The U.S. government in turn said it could walk away from funding the automaker if a deal was not approved by July 10.

"If GM liquidates, there will not only be nothing for stockholders; there will be nothing for unsecured creditors, Gerber said in the ruling.

U.S. automaker's vehicle sales in May get to 24%, but retreat narrows as it sold more vehicles than it has in the last 10 months. Ford Motor Co. reported its U.S. auto sales fell less than expected in May marking its best performance since July 2008. Ford said total domestic vehicle sales fell 24.3% compared to a year earlier.

As Goldman Sachs Group Inc. said, Visa Inc., the world’s largest electronic-payments network, and First Solar Inc., the largest manufacturer of thin-film solar power modules, are among the most likely candidates to replace General Motors Corp. should the automaker be dropped from the Standard & Poor’s 500 Index. GM, the biggest U.S.

According to the New York Times, the US government may own 70 % stake in the restructured General Motors, the ailing auto maker which is battling to avert a possible bankruptcy. The latest plan for the troubled auto maker, which is expected to file for bankruptcy by Monday, calls for the Treasury Department to receive about 70 % of a restructured GM.