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...
GM Bondholders Submit Own Plan
30 Apr 2009, 08:00 UTC · By: Daniel Patrascu / GM's new survival plan, presented at the beginning of the week along with the manufacturer's debt for equity, has displeased its bondholders in such an extent that now they have drafted th...
Canada Rejects GM, Chrysler Plans, Refuses to Provide Support
31 Mar 2009, 08:03 UTC · By: Bogdan Popa / What could possible be worse than this? General Motors and Chrysler are already on thin ice, with bankruptcy knocking on their doors ever since the fourth quarter of 2008, so they are desperately lo...
Fiat Chrysler Alliance Is Worth $10 Billion
17 Mar 2009, 13:26 UTC · By: Daniel Patrascu / The proposed alliance between Italian manufacturer Fiat and American giant Chrysler got a price tag/human cost evaluation today, as Bob Nardelli, Chrysler CEO said the future deal is worth $10 billi...
Forster: Opel Not Insolvent
12 Mar 2009, 13:55 UTC · By: Daniel Patrascu / General Motor Europe' CEO, Carl-Peter Forster expressed his opinion about Opel's financial situation and denied in an interview with German radio station Deutschlandfunk that the German ma...
GM Will Meet with EU on Friday the 13th
10 Mar 2009, 15:57 UTC · By: Daniel Patrascu / No superstition seems to be strong enough to keep European Commission representatives to meet with the ones of General Motors and other stakeholders this Friday. With the future of some 300,000 peop...
Merkel: Opel Is Not Vital to the Economy
9 Mar 2009, 19:05 UTC · By: Daniel Patrascu / German chancellor Angela Merkel requires a better survival plan to be forwarded by Opel, but warns that even if it does so and the plan is approved, it is unlikely the aid will come in the form of c...
GM Europe's Bankruptcy Would Mean 300,000 Lost Jobs
4 Mar 2009, 11:56 UTC · By: Daniel Patrascu / GM Europe's failure to save itself from a possible bankruptcy would mean the loss of 300,000 jobs on the continent, affecting the people working in manufacturing plants, suppliers and dealers, ...
Saturn Sends Encouraging Letter to Owners
20 Feb 2009, 14:45 UTC · By: Daniel Patrascu / The viability survival plan GM presented to the US Government on Tuesday contained, as we already reported, a large numbers of measures the company is going to take in order to survive the crisis an...
GM, Chrysler Submit Survival Plans
18 Feb 2009, 08:05 UTC · By: Daniel Patrascu / As we reported throughout the past few weeks, both GM and Chrysler were due yesterday to submit their survival plans as they are looking for additional financial aid to get through the economic cris...
European Car Market Shows No Sign of Recovery
17 Feb 2009, 17:25 UTC · By: Daniel Patrascu / Year-on-year sales reports show that Europe's automotive industry followed the trend set by the US crisis driven market and sinked by 26 percent last month. Although not as battered as its Amer...
GM Will Get $4 Billion Aid...
17 Feb 2009, 15:05 UTC · By: Daniel Patrascu / ...or at least this is what a White House aide said today, as reported by Reuters. The news, or should we say pat on the back, comes only hours away from the deadline set for the company to present ...