bankruptcy

Ford And Chevy Unite For Joint Duramax Diesel Project
Ford And Chevy Unite For Joint Duramax Diesel Project

Proving that the threat of bankruptcy proceedings makes for the unlikeliest of bedfellows, we found out from folks at PickupTrucks.com that the Blue Oval and the Bow Tie are getting together to make a diesel love-child. Yup, the 4.5-liter Baby Duramax that site Chevrolet Reports recently reported...Read More»

Chrysler Warranty Logo
GM And Chrysler Warranty Assistance To Come From TARP Fund

In our post about President Barack Obama's address regarding GM and Chrysler's restructuring, we told you earlier that the government has promised to back all warranty claims from both companies in the event of Chapter 11 bankruptcy proceedings or worsening financial troubles. Said Obama: "Let me...Read More»

Axle assembly
U.S. Treasury Department Extends $5 Billion To Parts Suppliers

Many are viewing the Treasury Deparment's $5 billion in aid for the auto parts supplier industry a signal that more aid - and no bankruptcy filings - are sure to follow for GM and Chrysler. Yesterday's announcement of parts supplier aid comes not much before the autos task force's decision (due...Read More»

Rick Wagoner 2007 Geneva
GM CEO Rick Wagoner Claims Bankruptcy = Liquidation

First GM was anti-bankruptcy because they said it would tarnish their image beyond repair. But this morning at a breakfast in D.C., CEO Rick Wagoner sounded the full Chapter 7 alarm. He claimed that filing for Chapter 11 bankruptcy protection would ultimately push the auto giant into liquidation...Read More»

Steve Rattner, via the New York Times
Steve Rattner To The Rescue

Yesterday was an important moment for domestic automakers: former investment banker and de facto head honcho of Obama's auto task force, Steve Rattner, had his first chat with the media. Reading through the reports, we have to admit that the guy makes a good impression. (Then again, he's got a...Read More»

GM chairman Richard Wagoner 2008
GM Advisers Present 'Best Chance' Plan For Restructuring

GM bondholder advisers claim they've presented a plan to both GM and Obama's autos task force that "provides GM's best chance for an out-of-court restructuring." They released a statement claiming that the plan, which would trade bondholders' stake in GM's spiraling debt for equity in the...Read More»

Opel Logo
Opel Assistance Deal Thin On Details Says German Gov't

Yesterday German Economy Minister Karl-Theodor zu Guttenberg, on his way from Germany to the U.S. for talks with GM and U.S. government officials, called upon more information from GM regarding its proposed solution for ailing Opel. He claims that GM's plan for Opel, its German division, is thin on...Read More»

2011 Chevrolet Volt
Obama's Auto Task Force Drive Chevy Volt, Visit Ram Plant

Today members of President Obama's autos task force head to Detroit to scrutinize GM and Chrysler's viability plans. A test drive of the 2011 Chevrolet Volt and tour of the plant that assembles the 2009 Dodge Ram will provide a chance for the companies to prove they can use fed assistance to...Read More»

Ladies and gentlemen, the Unknown Comic
Wall Street Journal Lets 'Person Familiar With The Matter' Do The Talking For GM

From time to time, journalists rely on anonymous sources, who, for whatever reason, prefer not to identify themselves to the public. And that's fine. But for the Wall Street Journal to base a 1200-word article about one of America's major corporate players on the comments of "person familiar with...Read More»

GM faces the reaper
GM Is Fearing Reaper, Barreling Toward Bankruptcy

Between lackluster sales, the sagging economy, and all that bailout mishegas, things are rough at General Motors. For weeks, we've been waiting for signs of improvement, convinced that the situation can't get much worse. We hate it when we're wrong. GM's auditors at Deloitte & Touche have...Read More»

2009 Saab 9-3 Convertible 2.0T
Saab's Bankruptcy Surprise: GM Scrambles

GM received another shock to its shaky operations last week when Saab suddenly and decisively filed for bankruptcy. Dealers were quickly invited to a phone-in conference, but reported that GM had only "sketchy" details and seemed to be working through the options and details - awkwardly - in real...Read More»

2011 Chevrolet Cruze
Detroit News Claims Chapter 11 "Must Be An Option" for GM

Today Detroit News columnist Daniel Howes dispenses with pretty grim predictions for General Motors based on cold, hard numbers. What was GM's "base case," a prediction of 12 million U.S. light vehicles sales in 2009 (the number they gave to Congress in December's hearings), has now fallen to just...Read More»

The Car Connection Daily Headlines
I agree to receive emails from the site. I can withdraw my consent at any time by unsubscribing.
Thank you! Please check your email for confirmation.