New General Motors about to roll off assembly line, leave bankruptcy protectionDETROIT — The new General Motors is about to roll off the assembly line as a leaner, greener model, maybe even a profitable one, too. GM, Chrysler press lawmakers to back off House legislation to restore closed dealershipsWASHINGTON — General Motors and Chrysler urged lawmakers Thursday to block legislation that would prevent them from consolidating their dealership networks, warning it would complicate their emergence from government-led bankruptcies. Restructuring consultant says rumors swirling about possible YRC Worldwide are ‘overblown’NEW YORK — An executive from one of the companies called upon to offer a restructuring plan for YRC Worldwide Inc. said Wednesday the prediction the beleaguered trucker will soon file for bankruptcy is “overblown.” Meltdown 101: How a bankruptcy court deals with product liability claims, like the ones at GMNEW YORK — American consumers assume they have the right to sue a company that has sold them a faulty product. In the upside-down world of bankruptcy — including the one General Motors is going through — those rights are not a given. States that prohibit debt collectors from seizing wages have lower bankruptcy rates than peersStates that allow debt collectors to seize consumers’ wages have sharply higher bankruptcy rates than neighboring states that prohibit or strictly limit the practice, an Associated Press analysis has found. Auto sales show signs of stability after tough year, but most June sales still worse than MayDETROIT — U.S. car and truck sales showed signs of stabilizing in June after a year of sharp declines, but every major automaker except Honda Motor Co. reported lower sales than in May. Meltdown 101: Web sites of out-of-business store chains still selling their usual waresCircuit City. Linens ‘N Things. Bombay Co. They’re all out of business, their stores shuttered, many employees laid off. What happens when a country is bankrupt? UN trade chief calls for global answerUNITED NATIONS — The U.N. trade chief said Thursday there is a “missing link” in the international financial system that is becoming more critical as the global economic crisis drags on: What happens when a country is bankrupt and can’t pay its debts? Meltdown 101: What’s the key to a successful exit from Chapter 11 bankruptcy protection?A Chapter 11 bankruptcy reorganization used to be considered a success if the company cut wages, lightened its debt load and improved supply contracts before emerging as a standalone enterprise. Auto parts suppliers survive with government and automaker help, but more trouble in sightDETROIT — Government aid and timely payments by General Motors, Ford and Chrysler have held off the predicted collapse of the nation’s auto parts supply base, but industry officials say more bankruptcies are coming as the effects of Detroit’s temporary factory closures continue to ripple through the economy. Meltdown 101: Will airlines follow US automakers into bankruptcy protection?DALLAS — Auto companies and airlines are both getting hammered by the recession, but while two of the nation’s major carmakers went into bankruptcy court protection, the leading U.S. carriers are flying above the carnage — for now. Auto task force: ‘Reasonable scenarios’ where taxpayers might get car bailout money backWASHINGTON — President Barack Obama’s auto task force told skeptical lawmakers Wednesday the government had no plans to pump more dollars into General Motors and Chrysler and that the public had a “reasonable probability” of getting its money back. Auto task force: ‘Reasonable scenarios’ where taxpayers might get car bailout money backWASHINGTON — President Barack Obama’s auto task force told skeptical lawmakers Wednesday the government had no plans to pump more dollars into General Motors and Chrysler and that the public had a “reasonable probability” of getting its money back. Fiat closes deal for Chrysler good assets, clears path for Chrysler to emerge from Chapter 11DETROIT — Italy’s Fiat is the new owner of the bulk of Chrysler’s assets, closing a deal Wednesday that saves the troubled U.S. automaker from liquidation and places a new company in the hands of Fiat’s CEO. Supreme Court lets Fiat deal go forward, Chrysler’s sale to close “very shortly”NEW YORK — Chrysler was a step closer to emerging from bankruptcy protection Wednesday, a day after opponents of the automaker’s planned partnership with Italy’s Fiat exhausted their appeals in an effort to halt the Obama administration-backed sale. Official: German government rejects state-backed credit for troubled retailer ArcandorBERLIN — Germany on Monday rejected a bid from troubled department store owner Arcandor AG for euro437 million ($610 million) in state-backed credit, a government official said. Germany’s Arcandor has its bid for government loan guarantee rejectedBERLIN — Struggling German department store owner Arcandor AG has had an application for euro650 million ($908 million) in government loan guarantees rejected, an official said Monday. Lawmakers raise questions about dealership losses, government aid in GM, Chrysler bankruptciesWASHINGTON — Government-led bankruptcies of General Motors and Chrysler are drawing opposition in Congress, where bailout-weary lawmakers want explanations for the billions in more federal aid and the planned shuttering of hundreds of car dealerships. Chrysler asks judge to approve termination of franchise agreements of 789 dealersNEW YORK — Chrysler heads back to bankruptcy court Thursday to ask the judge overseeing its case to allow it to terminate the franchise agreements of 789 of its dealers, despite the protests of many dealers who say the move could shutter their businesses for good. Chiefs of GM, Chrysler say they regret wholesale closing of dealerships, but had no choiceWASHINGTON — Partners no more, bankrupt automakers and small-town car dealers who are being stripped of their livelihood brought the anguish of their sinking fortunes into the halls of Congress on Wednesday and sparred over the companies’ plans to slash franchises nationwide. GM-Suzuki partnership in technology, Canada plant continues despite bankruptcyTOKYO — Japanese small car maker Suzuki and General Motors will continue their partnership in production and technology-sharing after GM’s bankruptcy, both sides said Tuesday. Meltdown 101: What is a corporate bankruptcy, and how do the most common types work?NEW YORK — General Motors Corp.’s filing for bankruptcy protection on Monday highlights what many companies today face: the ugly scenario of having debts that far outweigh their assets. Obama pushes GM into bankruptcy, commits additional $30 billion to help companyWASHINGTON — President Barack Obama pushed a humbled General Motors Corp. into bankruptcy on Monday and said the federal government will act as “reluctant shareholder” when it assumes a 60 percent ownership of the smaller carmaker that emerges. Obama says both GM and Chrysler will survive current financial convulsions, will prosperWASHINGTON — President Barack Obama is defending the government’s intervention in the auto industry, saying the collapse of GM and Chrysler would have been devastating for the economy and American workers. General Motors files for Chapter 11 bankruptcy protection in New YorkNEW YORK — General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. GM affiliate files for bankruptcy protection, starting the automaker’s court filingsNEW YORK — A General Motors dealership in New York filed for bankruptcy protection Monday, beginning the wave of court filings expected as the automaker files for legal protection to complete its reorganization. Japan business lobby worried about fallout from GM bankruptcy, but hopes for GM comebackTOKYO — The head of Japan’s biggest business lobby said Monday he was worried that General Motor’s imminent bankruptcy might hurt Japanese suppliers, but remained hopeful GM would emerge quickly from the restructuring. GM to file bankruptcy; US will take 60 percent ownership and attempt to reorganize carmakerNEW YORK — General Motors, the century-old automaker battered by the economic downturn, mounting debt and management problems, will file for bankruptcy Monday as part of an Obama administration plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. Japan expecting no major trouble from GM’s imminent bankruptcy, stands ready to help suppliersTOKYO — Japan stands ready to assist any Japanese companies seriously hurt by fallout from General Motors’ imminent bankruptcy, government officials said Monday, while brushing off fears of major troubles. AP sources: General Motors to file bankruptcy; Government to take 60 percent ownership stakeWASHINGTON — A congressional official says General Motors Corp. will file for bankruptcy protection Monday and the federal government plans to take a 60 percent ownership stake in the company. |
Topics
Poll Loading ...Latest Friend FeedsBankruptcy Figures
|
