F1 Boss Ecclestone Looking to Buy Nurburgring?
29 Jul 2012, 12:25 UTC · By: Mihnea Radu / Honestly, we really couldn’t fathom the automotive world without the mecca of speed that is the Nurburgring track. This German piece of racing asphalt has been the birthplace for many of the m...
Moody Boosts Ford’s Credit Rating to Investment Grade
23 May 2012, 13:12 UTC · By: Mihnea Radu / The world won’t spin any faster an the Fusion won’t start running on money, but it’s still note-worty that a major credit agency has boosted Ford Motor Co’s rating today. Moo...
Saab Considers Job Cuts, to Be Made by Year’s End
22 Sep 2011, 15:07 UTC · By: Mihnea Radu / Saab has bought itself a bit of breathing room, so it’s time to show that changes are indeed going to happen to ensure the company’s survival. The first significant move is the reduct...
Saab Files for Bankruptcy Protection
7 Sep 2011, 15:41 UTC · By: Mihnea Radu / Saying that Swedish automaker Saab is in bad shape is the biggest understatement in the industry. Even if they solved their financial problems at this point, their image is so badly affected that it...
Fiat Wants More of Chrysler
28 May 2011, 10:48 UTC · By: Daniel Patrascu / After helping American manufacturer Chrysler repay its debt to the American and Canadian government, Italian group Fiat has begun its next offensive, meant to insure that it gets full control of the...
Chrysler to Repay Government Loans in Q2 2011
28 Apr 2011, 12:41 UTC · By: Daniel Patrascu / A little slower than its brother in bankruptcy, GM, American manufacturer Chrysler announced on Thursday it had secured a new term loan facility that would allow it, combined with the extra money co...
Saab Needs More Money
14 Mar 2011, 08:44 UTC · By: Daniel Patrascu / It's not yet clear to us all what really takes place behind the closed doors of Saab's offices in Trollhattan, but as the word goes these days, nothing good is happening there. For the...
BBS Files for Bankruptcy
5 Jan 2011, 11:19 UTC · By: Mihnea Radu / BBS wheels are probably the most famous brand of its kind in the car world, appearing on everything from Volkswagens to F1 racers. But reports coming from Frankfurter Allgemeine Zeitung's FAZ.n...
Xzibit Owes Almost $1M in Taxes
3 Jan 2011, 11:35 UTC · By: Mihnea Radu / When he was raking in the big bucks in 2007, the MTV Pimp My Ride host earned a staggering $497,175 (€373,523). But after the show was canceled, his yearly income dropped to just $67,510 (&eur...
Pontiac Is Going Out of Business
1 Nov 2010, 10:16 UTC · By: Andrei Costea / After 84 years, former performance division of General Motors is going out of business. On April 27, 2009, due to financial crisis and restructuring efforts, GM announced that by the end of 2010 the...
Peugeot Threatened by the Iranian Government with Bankruptcy
11 Oct 2010, 10:10 UTC · By: Alina Dumitrache / French automaker Peugeot has just received a couple of threats bankruptcy-related, the ISNA agency news reported recently. The Iranian government announced that if it would decide to stop the import...
Visteon Exits Bankruptcy
5 Oct 2010, 07:38 UTC · By: Daniel Patrascu / Well over a year after it filed for Chapter 11 protection, auto parts maker Visteon announced last weekend it has emerged from bankruptcy, with pretty much all the issues raised during this troubled...
Lear to Open Plant in Detroit, Donates $5 Million
5 Aug 2010, 09:53 UTC · By: Daniel Patrascu / American supplier Lear, who emerged from bankruptcy in November last year, announced today it will open a new manufacturing plant in the Detroit area and will be hiring at least 200 people in 2011. ...
Visteon Replies to Johnson Controls’ Buy Proposal
23 May 2010, 13:47 UTC · By: Daniel Patrascu / The bankruptcy process through which Visteon is currently going through was complicated on May 17 by a buy offer made by rival Johnson Controls. According to Visteon, the offer made by the rival com...
Visteon Gets More Time to Seek Reorganization Plan
14 May 2010, 12:57 UTC · By: Daniel Patrascu / After late last week bankrupt American supplier filed an amended reorganization plan, the US Bankruptcy Court for the District of Delaware granted the company more time to win support for the strong...
Visteon Amends Reorganization Plan
7 May 2010, 14:47 UTC · By: Daniel Patrascu / The strongly debated reorganization plan filed by Visteon as part of its bankruptcy process was amended by the supplier today and submitted with the US Bankruptcy Court for the District of Delaware ...
Visteon Begins Battle with Shareholders
30 Apr 2010, 09:05 UTC · By: Daniel Patrascu / After earlier this week Aurelius Capital Master and two related investors made a request to the Wilmington bankruptcy court, asking it to reject the proposed reorganization plan submitted by Visteon...
Visteon Execs to Split $237 Million
27 Apr 2010, 10:20 UTC · By: Daniel Patrascu / The Visteon bankruptcy story continues in the US, with the latest development being the claim that some company executives are advocating for a plan which will allow them to split $237 million in st...
Chrysler Wants to Block Colorado Dealer Law
27 Apr 2010, 09:05 UTC · By: Daniel Patrascu / Having won a major victory in North Carolina last week, American manufacturer Chrysler continues its efforts to block dealer laws from being implemented into several US states and filed a complaint ...
The First Financial Results of the New Chrysler
22 Apr 2010, 09:32 UTC · By: Daniel Patrascu / American manufacturer Chrysler announced yesterday the first audited financial results since in emerged from bankruptcy, for the period June 10 – December 31, 2009. The new company reported ne...