by Ken Zino | Jun 1, 2009
While the President was due to address the General Motors bankruptcy shortly before noon in the Grand Foyer of the White House today, he began his remarks by reviewing the situation at Chrysler. It was a skilful way to lead from the strength of a politician’s...
by Joseph Szczesny | Jun 1, 2009
After spending nearly four years mired in bankruptcy court, Delphi Corporation may finally emerge from behind Chapter 11 protection as an asset of a Los Angeles-based private equity firm rather than under its own control. Delphi, via a transaction with Parnassus...
by Ken Zino | Jun 1, 2009
“The General Motors Board of Directors authorized the filing of a Chapter 11 case with regret that this path proved necessary despite the best efforts of so many. Today marks a new beginning for General Motors. A court-supervised process and transfer of assets...
by Ken Zino | Jun 1, 2009
General Motors Corporation has just announced details of its accelerated plan to shed unused capacity as its market share continues to drop. The latest manufacturing plan reduces GM’s total number of assembly, powertrain and stamping facilities in the U.S. from...
by Joseph Szczesny | Jun 1, 2009
A significant minority of General Motors Corporation bondholders are vowing to fight GM’s, government-sponsored re-organization plan even as the automotive giant files for bankruptcy protection. GM Bondholders Unite says that its members are more committed than...
by Paul A. Eisenstein | Jun 1, 2009
Folks may be willing to dine at a bankrupt restaurant chain, and they’ll even fly on a bankrupt airline? But will they buy a car from an automaker in Chapter 11? That’s a question lots of folks are trying to answer as General Motors files a motion to...
by Detroit Bureau | Jun 1, 2009
Though the corporate logo never appeared on the FBI’s Most Wanted list, the U.S. government long viewed General Motors as one of the country’s biggest public enemies. Back in the 1960s, when the automaker controlled more than half the American auto market,...
by Ken Zino | Jun 1, 2009
Judge Arthur Gonzales sitting in the U.S. Bankruptcy Court for the Southern District of New York has approved the sale of virtually all of the good assets of bankrupt Chrysler LLC to Fiat SpA. The creditors, dealers and product liability lawyers who were the only...
