bankruptcy

Fiat Buys Out The Feds, Becomes Majority Owner Of Chrysler
Fiat Buys Out The Feds, Becomes Majority Owner Of Chrysler

It's hard to believe that two years have passed since Chrysler's Chapter 11 hearings concluded (next Friday is the grim anniversary). Now, the automaker is preparing to begin a new chapter -- one with Fiat fully at the helm: Chrysler announced yesterday that Fiat will buy out the U.S. government's...Read More»

GM Logo
Report: Treasury To Hold GM Stock Until August

When will the Federal government get out of General Motors? Likely not until the end of the summer, according to a new report out of Detroit. In theory, the Treasury Department could divest itself of General Motors stock as early as May 22, which marks the end of the lockup period following last...Read More»

Chrysler headquarters
BREAKING: Chrysler To Repay U.S., Canadian Loans By June 30

Yesterday, we told you that Chrysler was on the brink of announcing a plan to repay its debts to governments of Canada and the U.S. Now, they've gone and done it: according to a Chrysler press release issued this morning, the repayment will officially take place sometime between now and June 30...Read More»

2008 Chrysler Crossfire 2-door Roadster Limited Angular Rear Exterior View
Report: Chrysler To Announce Repayment Of Government Loans

Sources close to Chrysler report that the automaker is close to announcing a refinancing package that would eradicate $6.6 billion in loans provided by the U.S. and Canadian governments. The loans have long been an issue for Chrysler CEO Sergio Marchionne, who vocally objected to their high...Read More»

Dodge 'Haiku For You' ad
UPDATED: Dodge's 'Haiku For You' Is The Worst Ad Of 2011 (So Far)

UPDATED: SEE BELOW After months of near-silence during its painful restructuring process, Chrysler began crawling back toward the world of advertising. Its first efforts -- one of which was dedicated to Burmese dissident Aung San Suu Kyi -- were not especially well received. Then came a few new...Read More»

Detroit
The Road Ahead: Auto Insiders Predict Big Gains For Detroit's Big Three

Yesterday, we spent a little time looking back at 2010, so it's only fair that we now turn 180 degrees and look at what the future holds for America's automakers. Thankfully, the folks at KPMG LLP are one step ahead of us: they've already distributed their annual questionnaire about tomorrow's auto...Read More»

Fiat's Sergio Marchionne
Chrysler, Fiat Not Merging (For Now)

Earlier today, Sergio Marchionne told reporters that he has no intention to merge the operations of Fiat and Chrysler. To some, that will signal trouble in paradise; others will see it as evidence of the CEO's caution and forethought as he retools a troubled company. We tend to side with the...Read More»

General Motors Renaissance Center, Detroit, Michigan
Things To Know About General Motors' IPO

General Motors' initial public offering is just a few weeks away, and the company is expected to make some announcements today that should be of interest to investors, analysts, and car fans. Here are a few details, some of which we already knew, and some of which have leaked out in advance of GM's...Read More»

Empty dealership
GM's Wound-Down Dealerships Finally Shuttered. What About Their 6.7 Million Customers?

General Motors caused quite a stir last year when the automaker trimmed over 1,500 dealerships from its network. In fact, some U.S. legislators are still clamoring for hundreds to be reinstated. (Whether they'll keep clamoring after tomorrow's mid-term elections is another matter.) But like it or...Read More»

U.S. Capitol
General Motors Makes Campaign Donations As IPO Nears

During its bankruptcy and restructuring last year, General Motors suspended all giving to political campaigns. It was the right thing to do for a number of reasons, but perhaps most importantly, it was a PR move: GM needed to show the world that it was using every dollar at its disposal to improve...Read More»

Deer Season Is Coming: Cue The Chevy Truck Ads

In many parts of America, deer season is a very big deal. Families talk about it for months, plan hunting trips, shop for deer stands, clean rifles. We know of school districts that cancel classes the day before the season opens, mostly because half the students want to stay home and pack for the...Read More»

2011 Buick Regal
And The Fastest-Growing Car Brand Is...Buick?

Look, we all miss Pontiac. Saturn, too. A few even miss Saab. (Fewer miss HUMMER.) But although General Motors' bankruptcy and brand sale may have been painful for fans, it's begun to pay off for the automaker and its remaining marques -- especially Buick. Not so long ago, Buick was on the skids...Read More»

Edward E. 'Ed' Whitacre, Jr.
BREAKING: General Motors CEO Ed Whitacre To Step Down Sept 1

General Motors chairman and chief executive officer Ed Whitacre will step down from his positions, passing the CEO slot to Dan Akerson on September 1 and departing as chairman of the GM board on December 31, 2010. The new CEO was voted onto GM's board last September as the company was reconstituted...Read More»

General Motors Renaissance Center, Detroit, Michigan
GM Lands $5 Billion Line Of Credit, Could File For IPO By Tomorrow

Last week, Ed Whitacre said that he was unsure about the timeline for General Motors' initial public offering. Analysts have been expecting GM to return to the stock markets this fall, but there's been a sizable obstacle standing in the automaker's way: finding a $5 billion line of credit, which GM...Read More»

Edward E. 'Ed' Whitacre, Jr.
General Motors Goes Public About Going Public

A little over a year ago, General Motors was split in two: stockholders were left with shares in "Old GM", known officially as "Motors Liquidation Company" -- currently trading around $.41 -- while "New GM", now known as "General Motors Company" became a privately held enterprise owned by a range...Read More»

GM's Hyatt Hills Golf Complex
The 'Old GM' Just Ain't What She Used To Be. Or Is She?

Just over a year ago, General Motors Corporation was split in two: the potentially profitable half became General Motors Company (i.e. "Good GM"), and everything else became Motors Liquidation Company (i.e. "Bad GM"). So far, the good GM has been on a roll, cranking out new models, launching...Read More»

2011 Jeep Grand Cherokee
It Looks Like The Big Three Are Back

There's no denying that Detroit automakers have had a rough couple of years. It was about this time in 2008 that gas prices began climbing toward $4 a gallon, which brought about a dramatic change in vehicle demand and explains why there are so many hybrids and compacts in the pipeline these days...Read More»

Chrysler 300 at Golden Globes
Chrysler 1, Dealers 0 In The Arbitration Game

The results of Chrysler's first arbitration hearing are in, and the news for dealers isn't good. The arbitrator has determined that Joe Kidd Dodge of Cincinnati, Ohio met Chrysler's criteria for elimination and that Chrysler broke its contract with the dealer in an impartial manner. As Chrysler...Read More»

Screencap from GM ad featuring Ed Whitacre
Video: Ed Whitacre And His Drawl Want To Restore Your Faith In GM

Yesterday, General Motors finished paying back nearly $7 billion in loans from the U.S. government -- with interest, ahead of schedule. On the off chance you didn't hear about that, CEO Ed Whitacre is here to fill you in. Whitacre and his folksy, Texas drawl star in a new, 60-second spot that...Read More»

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