WILMINGTON, Del, Sept 2- Gun maker Colt Defense and its creditors are close to a deal on a plan to bring the company out of bankruptcy, but if it fails, the business will go on the auction block next month, a company lawyer told a judge on Thursday. "It's fair to say the parties are very close to a deal," Colt lawyer John Rapisardi told the U.S. Bankruptcy Court in Wilmington,...» Read More
A handful of other financiers are being blamed for precipitating the bankruptcy of an American icon. As Chrysler’s fate hung in the balance Wednesday night, this group refused to bend to the Obama administration and accept steep losses on their investments while more junior investors, including the United Automobile Workers union, were offered favorable terms.
Futures indicated a slightly higher open for U.S. stocks Friday as investors shrugged off Chrysler's bankruptcy announcement and decided to go against the 'sell in May and go away' mantra after April's successful performance.
Plus, Cramer makes the call on the insurance, chemicals and natural gas sectors.
Sen. Richard Durbin (D-Ill.) has managed to get a vote scheduled for his controversial plan to help homeowners avoid foreclosure, but the bill's chances of approval are slim.
Senate Majority Whip Richard Durbin (D-Illinois) Thursday will take so-called bankruptcy cramdown legislation to the floor, seeking a vote on the controversial proposal, say Congressional and industry sources.
GM and Chrysler dealers have both hired lawyers to represent them in bankruptcy proceedings, CNBC has learned.
As the global economic slowdown digs its heels in and consumers tighten their belts and fret about jobs, the Alternative Arts organization hosted its annual Alternative Fashion Week in Spitalfields market, London, a platform for young, new designers.
The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week, people with direct knowledge of the action said Thursday.
Negotiations over the fate of Chrysler continue between the Treasury department and the banks that hold $6.9 billion of Chrysler's debt.
Though it came as no surprise to investors, the collapse of General Growth Properties, the nation’s second-largest mall owner, has stirred new fears about a coming debacle in commercial real estate. The company, which owns 200 shopping centers encompassing 200 million square feet and 24,000 tenants, filed for bankruptcy protection last week.
Your first option should always be credit counseling, says John Ulzheimer.
Today on the company conference call updating its restructuring, I asked GM CEO Fritz Henderson is the company will go beyond the number of plants it laid out for closure when updating the Federal Government on February 17th.
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.
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.
What happens when a company like GM files for bankruptcy? Here are some basic answers
Auto industry legends weigh in on President Obama’s push for the right solution.
Would it be better for taxpayers if GM went into bankruptcy? That's what some are saying on Wall Street this morning.
The U.S. Department of Labor filed complaints Wednesday accusing suspended NFL star Michael Vick of illegally spending about $1.3 million in pension plan funds for his own benefit, including paying restitution ordered in his dogfighting conspiracy case.
Key Democratic lawmakers are pushing legislation that would block creditors charging high interest rates on credit cards from collecting from consumers in bankruptcy proceedings.