Lear Reaches UAW Agreement
17 Jul 2009, 09:44 UTC · By: Daniel Patrascu / Bankrupt automotive supplier Lear announced today it has reached a tentative deal with the UAW on a contract for some 700 hourly workers at seating plants in Arlington and Wentzville. The company di...
Visteon Delays Employee Bonuses
16 Jul 2009, 08:45 UTC · By: Daniel Patrascu / Following the objection raised by Ford to its plans to award no less than $80.3 million in bonuses to employees, bankrupt part supplier Visteon announced it has delay plans to do so, for both employ...
Former GM CEO Wagoner Departs with $8.6 Million
15 Jul 2009, 08:51 UTC · By: Alexandru Radu Chis / Before being removed from the position of CEO by the new White House GM restructuring plan (a move which we can't accept he didn't 'foresee') Rick Wagoner appointed Bob Lutz as V...
Ford Objects Visteon Employee Incentive
14 Jul 2009, 09:00 UTC · By: Daniel Patrascu / Bankrupt American part supplier Visteon has setup an employee incentive program which, in Ford's opinion, is “entirely too rich, given current market and economic conditions.” The c...
Ironhorse Motorcycles Enters Liquidation Sale
13 Jul 2009, 14:16 UTC · By: Alina Dumitrache / Considered by some the largest manufacturer of custom motorcycles, American Ironhorse reached a turning point, taking the next step in Chapter 11 Bankruptcy, a liquidation sale to be held this week....
NADA Having to Yield to GM's Future Plans
13 Jul 2009, 07:29 UTC · By: Alexandru Radu Chis / After very dreary times for the US car manufacturers and especially for GM, which after seeing sales hit rock bottom also faced an unsettling bankruptcy process, financial redemption seems to be at ...
GM Meets eBay
12 Jul 2009, 17:45 UTC · By: Daniel Patrascu / After on Friday it emerged from bankruptcy wearing new clothes, the American manufacturer GM, now known as General Motors Company, is trying all its best to get back on track and hold on to status o...
GM to Exit Bankruptcy Today
10 Jul 2009, 08:13 UTC · By: Daniel Patrascu / What turned out to be a shorter-than-expected reorganization process will come to an end today for GM, as the American manufacturer is preparing to announce the exit from under Chapter 11 protection...
GM to Exit Bankruptcy on Thursday
8 Jul 2009, 13:57 UTC · By: Daniel Patrascu / Much faster than initially predicted, American manufacturer GM, or General Motors Company, as it will be called from now on, is getting ready to exit bankruptcy tomorrow, as soon as the court'...
GM Asks Court to Kill 70 Dealerships
8 Jul 2009, 06:45 UTC · By: Daniel Patrascu / Close to completing the sale of its assets to the General Motors Company, the American manufacturer has yesterday asked the bankruptcy court to cancel 70 dealers' contracts. In all, by 2010, th...
Toyota to Decide on NUMMI by August
7 Jul 2009, 14:51 UTC · By: Daniel Patrascu / The fate of the now former joint venture Toyota has been operating in California together with GM may be decided by the end of the month, as the negotiations between the two parties may come to a co...
GM to Get Remaining $20 Billion Loan This Year
7 Jul 2009, 09:30 UTC · By: Bogdan Popa / As it gets ready for a new start and emerge from bankruptcy as a clean company, General Motors received yet another good news: the company will receive the final $20 billion in US funding this year,...
Lear Enters Bankruptcy, Secures Creditor Support
7 Jul 2009, 06:15 UTC · By: Daniel Patrascu / After last week they announced the debut of a voluntary reorganization under Chapter 11 protection (read bankruptcy), automotive seating systems, electrical distribution systems and electronic produ...
GM Is Dead, Long Live General Motors Company
6 Jul 2009, 08:00 UTC · By: Daniel Patrascu / As we told you earlier today, the bankruptcy court has approved the sale of GM's assets to the new company, opening the door for the American manufacturer to exit Chapter 11. General Motors has...
Chrysler Board Completed
6 Jul 2009, 06:39 UTC · By: Bogdan Popa / After emerging from bankruptcy as a new and clean company, Chrysler goes further with the restructuring plan and appoints additional members to the Board of Directors, completing the nine-member tea...
GM Assets Sale Approved
6 Jul 2009, 06:01 UTC · By: Daniel Patrascu / Much sooner than expected, the sale of GM's assets to the new company has been approved yesterday by Judge Robert Gerber of the U.S. bankruptcy court in Manhattan. The judge motivated his decis...
Proliance Files for Bankruptcy
3 Jul 2009, 11:40 UTC · By: Daniel Patrascu / The number of US based automotive suppliers to file for bankruptcy this year increased today with aftermarket heat exchange and temperature control products supplier Proliance, who proceeded to the ...
GM Awaits Its Fate
3 Jul 2009, 10:44 UTC · By: Daniel Patrascu / All that could be done has been done... The three day long hearing of GM's case in bankruptcy court ended and now the American manufacturer is awaiting the approval of assets sale over to the n...
Official: Lear Will File for Bankruptcy
2 Jul 2009, 09:10 UTC · By: Daniel Patrascu / As we told you a few days ago, one of the biggest suppliers of automotive seating systems, electrical distribution systems and electronic products, Lear, was rumored to file for bankruptcy this week...
SsangYong Civil War: Violent Clashes, Firebombs, 80 People Injured
1 Jul 2009, 09:48 UTC · By: Bogdan Popa / Things are getting out of control at SsangYong's plant in Pyongtaek, South Korea where more than 900 armed workers - please note, ARMED - forced the entrance in the facility. Although it mi...