Now comes the hard part. After 39 days in bankruptcy, shedding thousands of jobs, closing more plants, and writing off billions in debt, GM is about to exit chapter 11 protection and try to show it can finally thrive. On paper it should succeed. In reality, it still has to prove itself.
The path is now clear for General Motors to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.
More than the 4 trillion fiscal stimulus, these loan levels are stimulating the economy and are making analysts revise their estimates for 2nd half Chinese growth. But at what cost? Like the G8, the Chinese will sort out the problems caused by this stimulus after their economy rebounds.
A late upturn pushed stocks higher Wednesday as investors rotated into defensive stocks like pharmaceuticals and Alcoa advanced ahead of earnings.
Stocks turned lower Wednesday as investors got defensive ahead of earnings season, rotating into pharmaceuticals and out of techs.
As Hyundai looks to gain share in the auto market, it will need to offer a full range of vehicles, said John Krafcik, acting president and CEO of Hyundai Motors America.
The sale of most of General Motors' assets is moving closer to completion, after a bankruptcy judge denied motions by groups with asbestos and injury-related claims seeking to halt the sale and appeal directly to the 2nd Circuit Court of Appeals.
Stocks rebounded Wednesday after a major selloff in the previous session as earnings season gets into gear.
Can diesel replace hybrids as the most attractive option for those who want a car powered by something other than unleaded gasoline.....The latest Intellichoice study is reason for optimism among diesel fans.
Futures indicated a slightly higher open for Wall Street Wednesday on profit taking after the major selloff the previous day.
Stocks fell Tuesday amid growing doubts about the economic recovery. There were some pockets of gains in the banking and pharmaceutical sectors.
Stocks fell Tuesday amid growing doubts about the economic recovery. There were some pockets of gains in the tech, banking and pharmaceutical sectors.
In fewer than 45 days each, General Motors and Chrysler swept through government-sponsored sales in bankruptcy court — quick tours that most people in the legal community thought impossible not long ago.
Stocks fell Tuesday amid growing doubts about the economic recovery. But techs and banks rose.
When you have a car company going through the great unknown of bankruptcy, you take the good news when it pops up. For Chrysler, the good news is the way residual values for new Chrysler vehicles are not only holding up, but actually rebounding a bit from when the company first filed for bankruptcy. It is the kind of proof the supports the arguments from the White House and elsewhere that bankruptcy would help, not hurt, Chrysler and GM.
Futures indicated a slightly higher open for Wall Street Tuesday as doubts about the sustainability of a global economic recovery dimmed.
Stocks ended mixed Monday as a dismal jobs report last week and expectations for a gloomy earnings season nagged at the market. But the Dow eked out a gain amid some bargain hunting.
Stocks were under pressure Monday as a dismal jobs report last week and expectations for a gloomy earnings season nagged at the market. But the Dow turned positive as investors took advantage of the selloff and did some bargain hunting.
A bankruptcy judge has ruled that General Motors can sell the bulk of its assets to a new company, but it appears the ruling will be appealed by a Chicago law firm.
Stocks briefly pared their losses after a report showed improvement in the service sector.