Swedish Automobile’s board members quit over funding dispute with CEO
Board members of Saab’s parent, Swedish Automobile, had resigned due to funding disagreements. Resigned from Swan’s supervisory board are Hans Hugenholtz, Maurizio La Noce and Alex... Read more
Chrysler dealerships sue US Treasury Department for violating 5th amendment
A lawsuit was recently filed against the U.S. Treasury Department by 64 dealerships that were terminated during Chrysler's 2009 bankruptcy reorganization. The suit, which seeks at least... Read more
GM, Chrysler continue to face challenges related to restructuring, unions
Even as U.S. sales are recovering, there are many issues that continue to worry the top executives of General Motors and Chrysler. The more familiar ones are related to unions’ demands... Read more
BBS filed for bankruptcy on December 30
World-famous producer of wheels BBS is filing for bankruptcy, according to Frankfurter Allgemeine Zeitung's FAZ.net website. This brand has been seen on Volkswagens to F1 racers but... Read more
Visteon Corp. exits bankruptcy with $600 million debt
Visteon Corp. has officially emerged from bankruptcy with a debt that has been reduced by about $2.1 billion. Visteon, which had once been the No. 2 maker of auto parts in the US, was... Read more
Professionals working for old GM will receive some of their fees
Last Friday, a US bankruptcy judge in New York ruled that professionals who had worked for the old General Motors Corp. would only have to wait to be paid some of the fees owed to them.... Read more
New GM could emerge from Chapter 11 this Thursday
The "New GM" will be emerging from Chapter 11 this Thursday, according to U.S assistant attorney Matthew Schwartz, who is closely involved with the General Motors bankruptcy hearings. In... Read more
Official: GM files for bankruptcy
It's official! General Motors filed for bankruptcy today, leaving 100 years of history behind and listing $82.29 billion in assets and $172.81 billion in debts. Of course, this is very... Read more
Ray Young is GM’s new vice president of international operations
Ray Young, 47 years old, will start his duties as General Motors Co.'s new vice president of international operations on February 1. In the past weeks, many speculations have been heard... Read more
Obama administration wants fast-track IPO for General Motors
The Obama administration wants to hurry up its initial public offering (IPO) of General Motors Co. shares to reduce its majority stake in the automaker, according to Ron Bloom, the head... Read more
GM’s U.S. market share may rise for the fourth straight month in November
General Motors Co. is predicting an increase in its US market share and annual sales rate for the month of November. Mike DiGiovanni, executive director of global market and industry... Read more
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