Any hope of a high-speed bankruptcy by General Motors faces a serious obstacle: a judge — not the Obama administration, not G.M. management and not the company’s creditors — would reign in court.
Chrysler Chief Executive Robert Nardelli says the U.S. government and Fiat will appoint a new board of directors if Chrysler joins forces with the Italian automaker.
Stock futures pared losses but continued to indicate a flat open Friday despite slightly better-than-expected first-quarter earnings results from Dow components Citigroup and General Electric.
When General Motors, Ford and Chrysler trooped to Washington with hats in hand, looking to be bailed out, the writing was on the wall for major restructuring and cost cutting to take place.
Stocks ended a rocky session higher Thursday as investors were encouraged by JPMorgan's results and techs rallied amid anticipation of better results from Google after the bell.
An early pop fizzled Thursday as investors digested a mixed bag of economic and earnings news. Banks were mixed as techs gained.
The United Auto Workers union has placed concession talks with General Motors on the back burner as it tries to reach a deal with Chrysler before an April 30 government deadline, two people briefed on the negotiations said Thursday.
Nissan Motors CEO Carlos Ghosn said the company has the technology and the ability to produce cars that are going to be zero emissions by 2010 but also cost-friendly.
For as long as I've been covering GM, I've heard the same thing over and over, "We are cutting dealerships and will get down to a core group that will be more profitable." Rick Wagoner said it when he took as CEO in 2000. Fritz Henderson is saying it as CEO in 2009.
Futures pointed to a higher open Thursday as investors shrugged off some dismal data points, choosing to focus on a drop in the headline jobless-claims number.
The bad economy isn’t bad for everyone. In fact, Jeff Macke has spotted an area where fortunes are thriving because of the downturn.
Don’t believe the hype that all you have to do is walk into a U.S. car dealership and they’ll practically pay you to walk out with the car.
It is increasingly clear GM's beleaguered Saturn brand will be orbiting around a foreign auto maker.
Were most of you going for the safety info or just the neat footage? My guess is, like many car races, most of you were just going to see the best crash.
The comments are blunt. Some would say they are long overdue. But most importantly, they reflect the sobering reality facing Chrysler and it's workers. They've got two weeks to show they want to get a deal done with Fiat or they can roll the dice with bankruptcy.
Now that the government has helped General Motors and Chrysler stave off bankruptcy with billions of dollars in loans, these US automakers are finding somewhat hostile crowds at their exhibits at the New York Auto show.
The video is dramatic. Especially if you've ever asked yourself how the smallest cars on the road would protect you in an accident. According to the latest head-to-head crash tests by the non-profit group Insurance Institute for Highway Safety, people riding in these "micro" cars would be at risk of a serious injury.
The senior lenders to Chrysler are planning to make a counteroffer to the Treasury Department this week, pushing back on a debt-reduction plan they say is too coercive.
Warren Buffett is in the driver's seat when it comes to the "car of the future," says Fortune. The magazine has put Buffett on its cover ("Buffett's Electric Car") along with the BYD E6, for a major story on Berkshire Hathaway's investment last fall in the Chinese company that is working to challenge the world's biggest automakers. The cover asks, "If the Oracle's plugging in, shouldn't you?"
You can hear them virtually everywhere. You can call them pessimists, but I prefer the term realists. They are people within GM, the Obama administration, the auto industry, and elsewhere who now see GM filing for bankruptcy as the best move for a company with few good options.