Updated at: 01/04/2013 9:37 AM A timeline of key events in the fall and revival of General Motors Co. 2008 Nov. 18 _ The CEOs of GM, Ford and Chrysler ask for aid from Congress, citing the weak economy, plummeting sales and the collapse of the U.S. banking system. Dec. 19 _ President Bush approves $17.4 billion in loans for GM and Chrysler, citing an imminent collapse of the industry. President Obama eventually approves another $44.6 billion in aid for the companies. 2009 March 30 _ GM CEO Rick Wagoner is forced to resign by the government. April 30 _ Chrysler files for bankruptcy protection. June 1 _ GM files for bankruptcy protection. Orion Assembly Plant is on a list of 12 plants it plans to close or idle. June 11 _ Chrysler leaves bankruptcy in a new partnership with Italian automaker Fiat SpA. June 26 _ GM says Orion will stay open and build a new small car that was originally scheduled to be built in China. July 10 _ GM emerges from bankruptcy protection. Becomes a private company with U.S. government as largest shareholder. Former AT&T head Ed Whitacre becomes board chairman. Nov. 16 _ GM reports a $1.2 billion loss from July bankruptcy exit through Sept. 30. Dec. 1 _ GM CEO Fritz Henderson is forced out after just eight months. Whitacre becomes CEO. Dec. 31 _ U.S. annual auto sales drop to 10.4 million, a 30-year low. 2010 Jan. 28 _ Ford reports a $2.7 billion profit for 2009, its first annual profit in four years. Ford didn’t take government bailout money but funded restructuring with a $26 billion loan. April 21 _ GM repays $8.1 billion of loans to U.S. and Canadian governments. May 17 _ GM reports first-quarter earnings of $865 million, its first quarterly profit since 2007. Aug. 12 _ Whitacre steps down. Board member Daniel Akerson becomes CEO. Aug. 18 _ GM files initial paperwork to sell its stock to the public, its first step toward ending government ownership. Nov. 10 _ Reports a third-quarter profit of $2 billion. Nov. 18 _ GM sells shares for $33 in an initial public offering. The government recoups $13.5 billion of its $50 billion in loans but retains a 26.5 percent stake in the company. Dec. 15 _ GM buys $2.1 billion of its preferred stock from the government. Dec. 31 _ U.S. annual auto sales rise 11 percent to 11.6 million. 2011 Feb. 24 _ GM reports earnings of $4.7 billion for 2010, its first annual profit in six years. May 2 _ Chrysler earns $116 million in the first quarter, its first profitable quarter in five years. Aug. 1 _ Orion Assembly begins building the Chevrolet Sonic. Oct. 14 _ President Obama tours Orion Assembly with South Korean President Lee Myung-bak. Dec. 1 _ Chevrolet Sonic overtakes the Hyundai Accent and Honda Fit as the best-selling subcompact in the U.S. Dec. 31 _ U.S. annual auto sales rise 10 percent to 12.8 million. 2012 Feb. 16 _ GM reports its highest annual profit ever _ $7.6 billion _ for 2011. Oct. 31 _ GM earns $1.48 billion in third quarter; 11th straight profitable quarter since bankruptcy. Total earnings since bankruptcy are $16 billion. Dec. 3 _ Industry reports strong Nov. U.S. sales; GM sales up only 3 percent. Industry grows 14 percent in first 11 months. GM up 3.5. Dec. 19 _ GM reaches deal to buy back 200 million shares from U.S. government for $5.5 billion. Government agrees to sell remaining 300 million shares by early 2014. 2013 Jan. 3 _ GM says it sold 81,247 Sonics in the U.S. in 2012, making it the best-selling subcompact in the country.
By The Associated Press
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