General Motors investors turned down Greenlight share plan

General Motors

General Motors shareholders today elected all of the company’s board nominees, overwhelmingly turning down a slate proposed by hedge fund Greenlight Capital and handing a significant defeat to billionaire investor David Einhorn’s bid to divide the company’s shares. Initial outcomes revealed over 91 percent of investors voted against Greenlight’s proposition to have automaker’s offer dividend […]

General Motors shareholders to decide Tuesday on Greenlight stock plan

General Motors

Greenlight Capital’s strategy to split up General Motors’ stock, along with its obstacle to the company’s board of directors, will decide on Tuesday, as the automaker’s shareholders cast their votes on the hedge fund’s propositions. Greenlight’s proxy contest comes during a significant overhaul at GM as CEO Mary Barra looks to jolt the automaker’s lagging […]

Glass Lewis backs General Motor’s board nominees, opposes Greenlight’s proposal

Glass Lewis logo

General Motors stated on Friday proxy adviser Glass Lewis & Co LLC advised shareholders to vote GM’s board nominees and against Greenlight Capital’s proposal at the business’s yearly shareholder meeting in June. Hedge fund manager David Einhorn’s Greenlight has been pressuring the automaker to divide its common stock into two classes to assist increase its […]

General Motors tried to undermine dual-share plan, says Greenlight

Greenlight Capital logo

Greenlight Capital intensified its battle against General Motors, publishing credit ratings documents that it said the car manufacturer inappropriately changed to weaken the hedge fund’s proposal to produce two classes of GM stock. Greenlight, which owns 3.6 percent of the automaker shares, has stated its dual share strategy would increase GM’s worth by creating a […]

Greenlight says General Motors misrepresented its stock plan

General Motors

Greenlight Capital selected three directors to General Motors board on Wednesday and alleged the company of misrepresenting to rating firms the prominent hedge fund’s proposal to divide the car manufacturer’s common stock into 2 classes. Greenlight manager David Einhorn informed Reuters the automaker has refused to permit him to provide his proposal to credit companies […]

General Motors share plan would preserve automaker’s cash, says David Einhorn

David Einhorn

Hedge fund manager David Einhorn informed Reuters that a major concern in his proxy fight with General Motors is the automaker’s disregard to allow credit rating agencies to officially rate his strategies to restructure GM shares. Einhorn stated that GM has rejected to allow Greenlight to present to credit rating agencies its proposition to split […]

Tesla surpasses General Motors to become most valuable U.S. automaker

Tesla Model S

It’s the first time in the modern era, that the most valuable U.S. automaker is not based in Detroit. Silicon Valley’s Tesla Inc surpassed General Motors on Monday to become the United States automaker with the largest market capitalization as the century-old car industry increases its dependence on software and advanced energy technology. Assisted by […]

General Motors provides information of contacts with Einhorn, CEO Barra’s pay

General Motors

General Motors on Monday detailed in a regulatory filing contacts with billionaire hedge fund official David Einhorn who went public recently with a strategy to enhance the automaker’s value and revealed its slate of board candidates, all whom presently serve on the board. Einhorn, who operates hedge fund Greenlight Capital, has proposed that General Motors […]