General Motors files for Chapter 11 bankruptcy protection in New York

General Motors files for bankruptcy protection

NEW YORK — General Motors entered Chapter 11 bankruptcy protection Monday with a near-complete plan to quickly emerge and potentially become profitable again, having already nailed down deals with its union and bondholders and arranged to sell off brands and most of its Opel operations in Europe.

Full article »

Chrysler files bankruptcy court motion to eliminate 789 of its 3,200 dealerships

Chrysler moves to eliminate 789 of 3,200 dealers

NEW YORK — Chrysler LLC wants to eliminate roughly a quarter of its 3,200 U.S. dealerships by early next month, saying in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other.

Full article »

Judge approves agreement to make GMAC preferred lender for Chrysler dealers and customers

Judge OKs deal to make GMAC top Chrysler lender

NEW YORK — A bankruptcy judge on Tuesday ruled that GMAC Financial Services can become Chrysler LLC’s preferred lender, potentially sending a slew of new business to the financing company and ensuring that Chrysler’s dealers will have access to the loans they need to stay in business.

Full article »

Experts say GM bankruptcy almost inevitable; too much work left with too little time

Experts say GM bankruptcy is almost inevitable

DETROIT — For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable.

Full article »

Experts say GM bankruptcy almost inevitable; too much work left with too little time

Experts say GM bankruptcy almost inevitable

DETROIT — For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable.

Full article »

Auto suppliers want Congress, Obama to protect supply base amid summer factory shutdowns

Auto suppliers urge lawmakers to protect base

WASHINGTON — Auto suppliers said Friday they are in crisis and may be forced out of business by temporary factory shutdowns at General Motors Corp. and Chrysler LLC.

Full article »

Judge gives Delphi additional time to come up plan for exiting bankruptcy protection

Delphi gets more time to come up with plan

NEW YORK — A federal judge ruled Thursday that auto supplier Delphi Corp. can have more time to come up with a plan to exit from bankruptcy protection, but acknowledged that the auto supplier’s fate hinges on what happens to its former parent General Motors Corp.

Full article »

AP Executive Morning Briefing

AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Wednesday, June 17, 2009:

Full article »

Chrysler expected to sell assets to Fiat Group SpA, close 5 more plants by end of 2010

Chrysler expected to sell assets to Fiat

NEW YORK — Chrysler LLC is expected to file a motion Saturday to sell substantially all of its assets to Italian automaker Fiat Group SpA, but the ailing automaker must still deal with creditors who refused to come to a deal to erase the company’s debt.

Full article »

Chrysler begins bankruptcy proceedings as documents reveal plans to close 5 more plants

Chrysler to close 5 more plants; court case begins

NEW YORK — Attorneys for Chrysler LLC said the company will file a motion by Saturday to sell substantially all of its assets to Italian automaker Fiat Group SpA, but that won’t include eight plants, including five that the automaker revealed it will shutter by the end of next year.

Full article »


Protected by Comment Guard Pro