When governments talk, auto bidders listen
What's cheaper than a fire sale? Answer: A government give-away.
U.S. court seen clearing Chrysler sale to Fiat
Chrysler looks set to clear its last major hurdle in its sprint through bankruptcy court as soon as Thursday, when a judge is expected to overrule more than 340 objections and approve its sale to a group that includes Fiat.
GM bankruptcy, Opel decision seen near
General Motors Corp moved closer to filing the largest bankruptcy ever for a U.S. industrial company after a crucial bond exchange proposal failed and as officials in Germany neared a decision on which company would take over GM's European brand Opel.
GM bankruptcy seen near
General Motors Corp moved closer to filing the largest U.S. industrial bankruptcy after a crucial bond exchange proposal failed and as officials in Germany neared a decision on which company would take over GM's European brand Opel.
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GM bondholders shun tender offer; bankruptcy nears
General Motors Corp has failed to persuade enough bondholders to accept a debt-for-equity swap, setting the stage for the largest-ever U.S. industrial bankruptcy within days.
GM bondholders nix tender offer; bankruptcy nears
General Motors Corp has failed to persuade enough bondholders to accept a debt-for-equity swap, setting the stage for the largest-ever U.S. industrial bankruptcy by the end of this month.
Deadline nears for GM, bondholders decide on swap
General Motors Corp faces a number of major deadlines and events on Tuesday that will go a long way toward determining how and when the company files for an expected bankruptcy later this week.
Crunch time looms for GM, Chrysler restructuring
United Auto Workers' officials will gather on Tuesday to hear how many more U.S. factory jobs GM will cut as the embattled automaker enters what could be its last week outside bankruptcy.
Chrysler slams Indiana State Treasurer's demands
U.S. automaker Chrysler on Monday slammed Indiana State Treasurer Richard Mourdock as making demands that would ultimately push the carmaker into liquidation -- resulting in the loss of more than 4,000 jobs and 9,000 retiree pensions in Indiana alone.
GM borrows $4 billion more, prepares for bankruptcy
General Motors Corp on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.
GM prepares for bankruptcy
General Motors Corp won a cost-cutting deal from its Canadian labor union on Friday, part of a package of concessions the automaker is expected to take into a federal bankruptcy court by the end of this month in a showdown with its bondholders.
GM talks likely to June 1, not past: Obama adviser
General Motors Corp restructuring efforts are likely to go right up to the June 1 deadline set by the Obama administration, but not beyond, a White House economic adviser said on Friday.
U.S. could take 17 years to exit GMAC after an IPO
GMAC LLC, which is giving the U.S. Treasury Department a 35.4 percent equity stake, said on Friday it might take 17 years for the government to shed its investment if the auto and mortgage lender were to go public.
U.S. to steer GM toward bankruptcy: report
The Obama administration is preparing to steer General Motors Corp into bankruptcy next week, The Washington Post reported on Thursday, citing sources familiar with the discussions.
U.S. may send GM into bankruptcy next week: report
The Obama administration may send General Motors Corp. into bankruptcy next week, giving the company billions of dollars in bailout funds to re-emerge as a viable firm, sources familiar with the matter told the Washington Post.
U.S. pours $7.5 billion into auto lender GMAC
The U.S. Treasury Department said on Thursday it has put another $7.5 billion into auto lender GMAC to enable it to support both Chrysler LLC , and General Motors Corp Corp car buyers and partly meet a shortage of capital.
GMAC to get $7 billion in aid from treasury
The Treasury Department is set to give GMAC LLC at least $7 billion in aid allowing it to expand lending to customers.
GM and UAW reach deal with U.S. government on restructuring
General Motors Corp cleared a key obstacle in its restructuring on Thursday as the United Auto Workers agreed to cut labor costs and accept new terms for a $20 billion union retiree healthcare obligation.
Fiat feels lucky on Opel, GM has misgivings: reports
Fiat SpA is convinced it has more than a 50 percent chance of succeeding in its bid for Opel because it does not think the other contenders have the expertise to revive the car maker, an Italian newspaper said.
Fiat sees more than 50 percent chance with Opel: report
The head of Fiat SpA said it had more than a 50 percent chance of succeeding in its bid for Opel, adding that the other contenders did not have the expertise to save the struggling car maker, according to a newspaper report.
Three bidders for Opel, Chrysler sets new chairman
The pursuit of German carmaker Opel has narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.
Chrysler to be lead by ex-Ford consultant
Chrysler’s new chairman, Robert Kidder, a private-equity investor and former consultant who once worked for Ford Motor Co will lead the automaker currently reorganizing under court protection.
Judge refuses motion to postpone Chrysler bankruptcy
A judge declined on Wednesday to postpone Chrysler's bankruptcy to allow a district court to hear arguments about whether the U.S. government exceeded its authority in the reorganization of the automaker.
Green
The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.
Fiat expansion stirs resentment in Italy's south
Staring at the locked gates of a Fiat car factory, Mimmo Vacchiano says many families in this poor corner of southern Italy face a stark choice unless its turnstiles reopen.
Terminated Chrysler dealerships to challenge sale
Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.
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