RICHMOND, Va.— A federal bankruptcy judge plans to approve the sale of West Virginia- based Patriot Coal's assets. Scott Depot, West Virginia- based Patriot says most of its operating assets will be sold to Lexington, Kentucky- based Blackhawk Mining LLC. Patriot said earlier this week that it expects the sale to result in the layoffs of more than 2,000 workers in West...» Read More
GM CEO Fritz Henderson told CNBC Friday that the new GM must succeed and he said that he believes that the company will do just that.
Stocks were mixed Friday as a Chevron profit warning exacerbated earnings worries but an upgrade on the hardware sector boosted tech stocks.
On the day GM emerged from bankruptcy, company CFO Ray Young told CNBC Friday that the new GM won't be seeing real cash flow until sometime in 2010.
Amid the gloom of bankruptcy and a miserable market for new vehicles, G.M.’s new Chevrolet Camaro muscle car is winning over consumers looking for a little excitement in a bland landscape of look-alike sedans and watered-down sport utilities.
Stocks opened lower Friday as Chevron's earnings warning added to investors' worries about earnings and the economic recovery.
Just off the lows of the day, futures point to a slightly lower open on this last trading day of the week. The markets are on pace for their fourth straight week of declines – their longest losing streak since February/March.
Futures pointed to a modestly lower open for Wall Street on Friday as Chevron's earnings warning added to investors' uncertainty on corporate earnings.
Once the world's largest and most powerful automaker, new GM is now cleansed of massive debt but faces a daunting task as car sales are in the worst slump in 25 years.
General Motors completed a major step in its turnaround and closed the sale of its good assets to a new, government-backed carmaker, at a speed unimagined by auto and bankruptcy experts.
Lenny Dykstra sat down with CNBC at his $24 million hilltop estate behind the gates of Sherwood Country Club.
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.
I am at Lenny Dykstra's $24 million mansion in Sherwood Country Club, where I snapped some photos. Dykstra is here and preparing to be interviewed by me about his Chapter 11 bankruptcy filing this week, which stopped a planned foreclosure of his estate.
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.
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.
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.
If all goes as planned and GM comes out of bankruptcy Thursday afternoon the country's largest auto maker will have gone in and out of Chapter 11 in 40 days.
A federal judge late on Sunday approved a plan by General Motors to sell its best assets to a new, government-backed company, a crucial step for the automaker to restructure and complete its trip through bankruptcy court.
Health insurance is supposed to offer protection — both medically and financially. But as it turns out, an estimated three-quarters of people who are pushed into personal bankruptcy by medical problems actually had insurance when they got sick or were injured.
What Iceland has to do to save itself.
It may not emerge from bankruptcy as quick as Chrysler, but GM is entering the stretch run, and can see the finish line. Tomorrow, the country's largest auto maker will be back in bankruptcy court to finalize plans to sell the "good assets" to a new GM that will emerge from bankruptcy with a clean balance sheet.