Main Street Bondholders Oppose GM's Offer
29 May 2009, 10:00 UTC · By: Daniel Patrascu / The last ditch effort made by GM to come to an an agreement with its bondholders over the $27.2 billion debt has hit a brick wall, at least as far as the Main Street Bondholders are concerned. The g...
GM Bondholders, Unite!
29 May 2009, 09:33 UTC · By: Daniel Patrascu / As bankruptcy closes in on what was once the mighty General Motors, the prospects for the small bondholders of the company look darker and darker. GM's latest offer to its largest bondholders h...
GM to Shut Down 14 Plants on Monday
29 May 2009, 08:49 UTC · By: Bogdan Popa / The bankruptcy filing General Motors is going to announce on Monday will obviously have serious consequences over the American auto sector. According to a report by the Associated Press, the US car ...
Almost Official: GM to File for Bankruptcy on Monday
29 May 2009, 08:06 UTC · By: Bogdan Popa / Rumors surrounding General Motors' fate continue to surface, with a new story claiming that the American auto giant might file for bankruptcy on Monday. Just like in Chrysler's case, Gener...
GM Makes Final Exchange Offer
28 May 2009, 14:47 UTC · By: Daniel Patrascu / General Motors, heavily supported by the US Treasury Department is now trying to make a last ditch effort to save itself from a long and costly bankruptcy process. After the initial exchange offer b...
GM Preps for Section 363 Sale
28 May 2009, 14:44 UTC · By: Daniel Patrascu / With a final decision regarding its future only days away, American manufacturer GM has started setting up scenarios to see how the company can exit bankruptcy as fast and as safely as possible. The...
Metaldyne Files for Bankruptcy
28 May 2009, 12:17 UTC · By: Daniel Patrascu / The following months will be very challenging for the US automotive industry. After earlier today we announced you that Visteon, one of the largest auto part manufacturer submitted its papers to ent...
Visteon Files for Bankruptcy
28 May 2009, 08:39 UTC · By: Daniel Patrascu / Visteon, the auto parts maker which was once a Ford division has announced it had filed for Chapter 11 today, in an attempt to protect its US operations. The company is working without any profit fo...
LaSorda: Fiat Was the Only Option
28 May 2009, 07:48 UTC · By: Daniel Patrascu / Who is still living under the impression that the main focus of the Fiat-Chrysler alliance was the introduction of new technologies in the US should stand corrected. In the beginning, the main reas...
GM Admits Defeat from Lenders
28 May 2009, 07:00 UTC · By: Daniel Patrascu / General Motors has officially confirmed that it did not manage to swap the $27 billion debt for shares in the new company. The confirmation came as a result of the expiration of the exchange offer, ...
GM Bondholders Reject Offer, Bankruptcy Likely
27 May 2009, 10:28 UTC · By: Daniel Patrascu / As we told you earlier today, the deadline set for GM's bondholders (to accept or decline the swap of a $27 billion for a 10 percent stake in the reorganized company), came and went last night....
The General's Final Days
27 May 2009, 06:51 UTC · By: Daniel Patrascu / General Motors is now going through its final days, as the deadline set by the US government looms ever closer. The manufacturer has one major obstacle ahead, an obstacle no one yet knows if it has ...
SsangYong Allowed to Continue Restructuring Plans
25 May 2009, 10:45 UTC · By: Bogdan Popa / The South Korean manufacturer SsangYong who filed for bankruptcy in February is now allowed to proceed with its restructuring plan and struggle to stay alive. The news comes after a South Korean cou...
US Gives GM Another $4 Billion Loan
25 May 2009, 08:30 UTC · By: Bogdan Popa / With a bankruptcy filing rumored to be announced as soon as this week, General Motors confirmed it received another $4 billion from the US Treasury, which raises the total loan it received in the Un...
Bankruptcy Still an Option for Opel, German Official Reveals
25 May 2009, 08:07 UTC · By: Bogdan Popa / Even if Fiat and Magna International are now fighting to take over the German ailing brand Opel, bankruptcy might still remain an option unless the two companies improve their bids, said Economy Min...
GM, UAW Reach Tentative Agreement
24 May 2009, 21:12 UTC · By: Bogdan Popa / General Motors today announced it has reached a tentative agreement with the United Auto Workers (UAW) which is regarded as a major step towards a successful restructuring process started by the Ame...
Main Street Bondholders Call for a Seat at the Table
22 May 2009, 14:45 UTC · By: Daniel Patrascu / The prospects of the second American manufacturer entering bankruptcy next week has raised concerns with all the parties involved. The Main Street Bondholders Coalition, a union of GM's small b...
GM Reaches UAW Agreement, Lenders Await
22 May 2009, 12:25 UTC · By: Daniel Patrascu / One minor step for GM, yet in the right direction. The American manufacturer now operating with next week's sword over head has come to an agreement with the UAW, eliminating one of the obstacl...
US Prepares to Send GM into Bankruptcy
22 May 2009, 09:45 UTC · By: Bogdan Popa / What was only a rumors is slowly becoming reality as a new report, backed by sources close to the matter, is now hinting that the United States government is getting ready to push General Motors int...
What Bankruptcy? Chrysler's Sales Go in the Right Direction
21 May 2009, 14:55 UTC · By: Bogdan Popa / Even though the company has filled for bankruptcy and is now planning to shed 789 dealers across the United States, Chrysler sees increasing sales in the home country, an executive of the American m...