Not Today! Man Drives His Dodge Challenger off a Moving Repo Truck While Getting Towed
26 Oct 2022, 15:14 UTC · By: Humphrey Bwayo / Like a scene straight out of a Fast & Furious set, a man (owner) jumps into the driver’s seat of the Dodge Challenger being towed by a repo truck
Saab to Sell Real Estate Property to Generate Cash
11 Apr 2011, 10:50 UTC · By: Daniel Patrascu / With the suppliers asking for a resolution to the payment problems for Saab this week, the Swedish manufacturer, together with its recent owner Spyker, are looking for the best solution to generate...
Ford to Cut Debt by $3Bn
11 Feb 2011, 07:10 UTC · By: Daniel Patrascu / American manufacturer Ford is building on the success it had last year and announced today another major step it is about to take towards the fulfillment of the One Ford strategy. On March 15, Ford ...
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...
Chevrolet Confident GM Will Pay Debts Soon
2 Dec 2010, 11:10 UTC · By: Bogdan Popa / Since the recent sales figures have shown a major recovery for US-based carmaker General Motors, Chevrolet believes the parent company will be able to pay its debts in the near future. The $50 billi...
Porsche's Share Sale Has Shareholders' Support
1 Dec 2010, 09:48 UTC · By: Andrei Costea / Porsche investors approved a EUR5 billion stock sale to reduce the company's debt prior to its merger with Europe's largest carmaker, Volkswagen AG. Company shareholders voted in favor of ...
Treasury Department Gains $11.7 Bn from GM's IPO
24 Nov 2010, 12:02 UTC · By: Andrei Costea / The US Treasury Department has received $11.7 billion following the sale of 358.5 million shares of stock in General Motors Co. Its stake shrunk to 37 percent from 61 percent after the IPO, and coul...
Detroit Three Will Get The $14 Billion Financial Aid
21 Nov 2012, 14:06 UTC · By: Vali Mihaescu / News from the White House travel fast. The financial aid for the Detroit Automakers has passed the House Of Representatives. General Motors and Chrysler LLC will immediately get an amount of $14 bil...
GM Buys Back Treasury Shares
29 Oct 2010, 06:38 UTC · By: Daniel Patrascu / Last year, American manufacturer GM became one of the preferred beneficiaries of the government's bailout money ($52 billion were poured into what appeared to be a bottomless pit). The carmaker...
Moody's Ups Ford's Debt Rating
21 May 2010, 12:33 UTC · By: Daniel Patrascu / Taking into account the projected earnings and financial performance of American manufacturer Ford, rating agency Moody's Investors Service increased the carmaker's ratings. Moody's b...
GM to Repay Government Debt by June
16 Dec 2009, 14:02 UTC · By: Alex Vasile / General Motors decided to pay its debt to the US and Canadian government by June. "We intend to pay the debt," chairman and acting chief executive Ed Whitacre said in his first meeting wit...
Lear Emerges from Bankruptcy
10 Nov 2009, 15:34 UTC · By: Daniel Patrascu / Tough times remain behind for American automotive supplier Lear, after it announced today it has completed its court-supervised financial reorganization. In addition, Lear also announced its new com...
SsangYong Rescue Plan Accepted by Creditors
23 Oct 2009, 08:48 UTC · By: Alex Vasile / The SsangYong saga is far from being over. As you know, the South Korean manufacturer had a rough year. In 2008 sales went down a staggering 34.5%. As a direct result, in December 2008 Ssangyong was...
SsangYong's New Survival Plan
17 Sep 2009, 09:19 UTC · By: Daniel Patrascu / South Korean manufacturer Ssangyong submitted a new survival/revival plan in Korean bankruptcy court, in an attempt to exit court receivership. The plans submitted with the Seoul Central District Co...
Lear Submits Reorganization Plan
18 Aug 2009, 10:36 UTC · By: Daniel Patrascu / Bankrupt American supplier Lear filed its reorganization plan in bankruptcy court, taking yet another step into securing its goal of restructuring the $3.6 billion debt, as well as opening the door ...
Porsche CEO Might Step Down After All
22 Jul 2009, 08:37 UTC · By: Alexandru Radu Chis / The challenging times for both for Porsche and its CEO, Wendelin Wiedeking, are just beginning, as reports saying he will likely step down in the near future increase in intensity. After an unsucces...
Skoda Up for Sale?
23 Jun 2009, 12:48 UTC · By: Daniel Patrascu / While the Porsche-Volkswagen wars keep on making the headlines, another manufacturer owned by VW is getting ready to pack and leave the group. According to a report by autosblog.fr, a Korean manufac...
Saab Gets Debt Writedown
17 Jun 2009, 12:45 UTC · By: Daniel Patrascu / Things are beginning to get back on track for Swedish manufacturer Saab, after months and months of uncertainty. Following yesterday's announcement that Koenigsegg will buy the company, Saab ma...
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....