LONDON, Nov 25- Shahriar Tadjbakhsh, the former chief operating officer of Exor, the Agnelli family's investment company, has launched an activist hedge fund in Europe called Altaone Capital, sources familiar with the matter told Reuters. Tadjbakhsh, 52, a U.S. citizen of Iranian origin who was previously a partner at Wall Street firm Goldman Sachs, has teamed up...» Read More
President Barack Obama is defending the government's intervention in the auto industry, saying the collapse of GM and Chrysler would have been devastating for the economy and American workers.
Stocks advanced Monday as investors were encouraged by economic reports out of China and the U.S. and shrugged off the General Motors bankruptcy filing.
John Wolkonowicz, senior analyst at IHS Global Insight, and Alex Taylor, senior editor at Fortune Magazine, discussed the General Motors’ bankruptcy and the future of the automobile industry.
General Motors' bankruptcy filing on Monday comes at no surprise, said Bob Doll, BlackRock vice chairman.
General Motors filed for Chapter 11 bankruptcy protection in New York Monday. Here are following is the list of the largest trade creditors:
AutoNation CEO Mike Jackson says buyers are coming to car showrooms, but the credit isn't there to make the sales.
For General Motors workers and others across the nation, reaction to the automaker's historic bankruptcy filing Monday and the effect on their plants and lives ranged from resignation to fear.
General Motors filed for Chapter 11 bankruptcy protection Monday. Following is a list of GM plants that will be put on standby or closed.
With General Motors about to follow Chrysler into bankruptcy, the nation’s ability to bounce back from the steep recession is being hobbled, the New York Times reports.
Somewhere Walter P. Chrysler and Alfred Sloan are shaking their heads. The men who left an indelible impression on the American auto industry must be watching what will happen today and wonder, "do these guys really have a shot at making it?"
Stock index futures rose ahead of the open Monday after a report showed personal income rose in April and investors largely shrugged off the General Motors bankruptcy filing.
General Motors is set to follow Chrysler into bankruptcy as the global auto industry struggles with the economic downturn and looks to government intervention to turn around failing business models.
It is not every 31-year-old who, in a first government job, finds himself dismantling General Motors and rewriting the rules of American capitalism.
Stocks capped a winning month with a 1-percent rally Friday as traders squeezed in a few last-minute trades to close out the month of May. Investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell ended higher after beating its earnings target. GM ended at 75 cents a share.
Get ready folks: America is about to own a car company. As of Monday, we the taxpayers will own more than 70 percent of GM. Whether the company will be formally renamed Government Motors remains to be seen. But that’s what it will be.
Visteon, the top supplier to and a former subsidiary of Ford, filed for bankruptcy protection on Thursday, citing liquidity and debt problems, and turmoil in the automotive industry.
Stocks made another break higher Friday as investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
Plus, Cramer makes the call on retail, autos, gold and more.
The government bailout of General Motors includes a valuable prize for the ailing carmaker: a tax break that could save GM and its future investors more than $12 billion.
Shares of General Motors have fallen below $1 for the first time in 76 years as a Chapter 11 bankruptcy filing for the automaker appears increasingly likely.