bankruptcy

Video: Ed Whitacre And His Drawl Want To Restore Your Faith In GM
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»

2006 Chrysler 300-Series 4-door Sedan 300C Grille
Chrysler Brand Not Good Enough for Europe, Except in U.K.

As U.S. car buyers slog through their last year of shopping for the warmed-over 2010 models that Chrysler has been offering since before its bankruptcy, the great Fiat-Chrysler combination continues. Yesterday, a surprise emerged: Contrary to published reports, the larger cars and crossovers...Read More»

General Motors Renaissance Center, Detroit, Michigan
Bailout Successes? GM Pays Off Loans, Chrysler Loses Less

Both General Motors and Chrysler are working as hard as they can to take advantage of the last-ditch bailouts provided last year by the U.S. government. This morning, each issued a separate sign of its progress. GM chief executive officer Ed Whitacre is expected to announce that the company will...Read More»

Audi e-tron Concept for 2010 Detroit Auto Show
2010 Detroit Auto Show: From The Outside Looking In

We don't use the word "I" very much in our writing at TCC, but this time, I suppose I'll have to: I'm going to give my take on the 2010 Detroit Auto Show from the vantage point of my office, which lies -- inconveniently -- about 1,000 miles to the south. What can I add to the discussion from here...Read More»

2009 Saturn Sky
Power: People Won't Buy Cars From Companies Headed Into Oblivion

Things haven't looked so hot for Chrysler and General Motors this year. And now it's clear that assurances from the government and CEOs weren't enough to overcome the images of…well, sinking ships. And for the image-conscious, buying a car from a failing company or a retired brand? Not so...Read More»

Edward E. 'Ed' Whitacre, Jr.
GM Has 'A Comprehensive Plan to Address Dealer Concerns'

General Motors and Chrysler have been the target of frustration from thousands of dealers that were cut from the companies' networks during last summer's restructurings. The automakers, dealers, and other interested parties have proposed a variety of ways to resolve the matter -- including...Read More»

Fritz Henderson, GM CEO
GM CEO Henderson Resigns, Board Chair Whitacre to Serve Temporarily

At 4:45 pm this afternoon, General Motors Chairman of the Board Ed Whitacre announced that the Board of Directors had accepted the resignation of chief executive officer Fritz Henderson. Whitacre will serve as the acting CEO until a successor is hired. Henderson had been on the job less than a year...Read More»

General Motors Renaissance Center, Detroit, Michigan
GM Gives The Feds An Early Holiday Gift: $140 Million

Just last week, General Motors announced plans to speed up repayment of billions in loans from the U.S. government. Technically, the company's fast-track, $1 billion-per-quarter payback schedule doesn't kick in until December, but GM is getting a head start on things by returning $140 million right...Read More»

2010 Saab 9-5
GM's Saab Saga: Back To The Drawing Board, Or Call It Quits?

General Motors fans were dealt a major blow yesterday when another of the company's brand sales collapsed -- this time, the sale of Swedish marque Saab to Koenigsegg Group AB. A member of the Swedish government says that GM will continue to seek out a buyer for the beleaguered brand, but whether...Read More»

McCain at GM 7-18-05
McCain Hasn't Met Anyone Who Thinks Chrysler Will Survive

The first time John McCain ran for the U.S. presidency, his aggressive, occasionally angry style didn't sit well with voters. As we saw in 2008, he's managed to dial it down a bit during public debates, but the senator is still as feisty as ever. Yesterday, he told the press that Chrysler is...Read More»

Fritz Henderson, GM CEO
General Motors Announces Q3 Results, Speedy Loan Repayment

It's been a busy day for General Motors CEO Fritz Henderson. Not only did he reveal GM's third quarter financials, but he also announced the company's souped-up plan to repay $6.7 billion in loans from the U.S. government. While the financial report was reasonably upbeat (the company ended Q3 $1.2...Read More»

Saab 9-3
Koenigsegg To Trim 81 Dealers From Saab Network

General Motors may be looking to expand its (formerly) shrinking U.S. network, but the soon-to-be owner of GM's orphaned Saab is sticking with a leaner, meaner game plan: Koenigsegg intends to nix 81 Saab dealers from the company's current network, leaving just 137 outlets in the U.S. Of course...Read More»

Chevrolet dealership
GM Adding New Dealerships, Frustrating Old Ones

When Chrysler and GM underwent restructuring earlier this year, they took the opportunity to thin out their dealer networks. As you might recall, that resulted in substantial consternation among dealers, lobbying groups, and elected officials. But while threats of litigation and offers of mediation...Read More»

Edward E. 'Ed' Whitacre, Jr.
GM Chairman Ed Whitacre And The Salary Cap Flap

General Motors chairman Ed Whitacre isn't much of a wallflower -- but then, no one earns a resume like his by staying quiet. In keeping with his outspoken personality, yesterday Whitacre came out swinging against the $500,000 salary cap imposed by the U.S. government on executives at companies that...Read More»

aev jeep j8 civilian 010
Rumor: Jeep To Be The Only Chrysler Brand Sold Overseas

Tomorrow marks the big unveiling of Chrysler's five-year recovery plan. There's been a lot of speculation about the company's new strategy, and now comes a bit more: sources familiar with the recovery document say that CEO Sergio Marchionne will scrap plans to sell most Chrysler brands outside...Read More»

Fritz Henderson, GM CEO
Chrysler, GM Loans Include U.S. Production Goals; GAO Worried About GM

Yesterday's headlines may have centered on Ford's new-found profitability, but Chrysler and GM are working toward the black ink, too. General Motors in particular has high hopes for the future, but the federal government is slightly concerned that GM may be rushing its game plan and setting itself...Read More»

Fritz Henderson, GM CEO
Fritz Henderson Loses $310,000, Calls It 'Fair'

The Treasury Department made headlines last week when it announced that bigwigs at bailed-out companies would be taking some sizable pay cuts. From banks to auto companies, many of those affected by the plan have remained silent, but General Motors' Fritz Henderson has now admitted that it's the...Read More»

Ford May Post Third-Quarter Profit Next Week

It's no secret that Ford Motor Company has withstood the current financial storm far better than Chrysler and General Motors. Between its refreshed reputation as a manufacturer of quality vehicles and the fact that Ford was the only Detroit automaker to dodge both bankruptcy and bailout dough, the...Read More»

U.S. Capitol
Bailout Update: GM, Chrysler Dealers Edge Toward Resolution

To say that the federal government's bailout of Chrysler and General Motors has been contentious is a little like saying that the Bugatti Veyron is kinda fast -- an understatement at best, cause for a righteous uproar at worst. But roughly a year since the Big Three began wooing Washington, the...Read More»

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