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Bankruptcy

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  • With Sale of Good Assets, GM Out of Bankruptcy Friday, 10 Jul 2009 | 8:19 AM ET
    GM logo, General Motors logo

    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: 'Bank Fraud' Led to Bankruptcy Thursday, 9 Jul 2009 | 6:44 PM ET

    Lenny Dykstra sat down with CNBC at his $24 million hilltop estate behind the gates of Sherwood Country Club.

  • GM Road To Leave Bankruptcy Cleared by Judge Thursday, 9 Jul 2009 | 3:00 PM ET
    First page of the US bankruptcy filing for General Motors Corporation

    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.

  • Lenny Dykstra - What Went Wrong? Thursday, 9 Jul 2009 | 11:41 AM ET
    Lenny Dykstra's $24 million mansion in Sherwood Country Club.

    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.

  • Judge Denies Motion to Fast-Track GM Sale Appeal Wednesday, 8 Jul 2009 | 10:27 AM ET
    First page of the US bankruptcy filing for General Motors Corporation

    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.

  • Automakers’ Swift Cases in Bankruptcy Shock Experts Tuesday, 7 Jul 2009 | 11:09 AM ET
    GM and Chrysler bankruptcy

    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.

  • GM's Sale Plan Approved; Appeal Likely Over Ruling Monday, 6 Jul 2009 | 11:26 AM ET
    First page of the US bankruptcy filing for General Motors Corporation

    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.

  • GM A Step Closer To Exiting Bankruptcy Monday, 6 Jul 2009 | 9:28 AM ET
    GM logo, General Motors logo

    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.

  • Plan to Sell General Motors' Assets Is Approved Monday, 6 Jul 2009 | 12:41 AM ET
    GM Dealership

    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.

  • Many With Insurance Still Bankrupted by Health Crises Wednesday, 1 Jul 2009 | 8:12 AM ET

    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.

  • Can Iceland Be Saved? Tuesday, 30 Jun 2009 | 11:29 AM ET
    Iceland Flag

    What Iceland has to do to save itself.

  • GM Enters Stretch Run To Exit Bankruptcy Monday, 29 Jun 2009 | 10:39 AM ET
    GM Bankruptcy

    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.

  • Welcome To The Bankruptcy Inn Tuesday, 23 Jun 2009 | 4:39 PM ET

    It looks like we’ll have another bankruptcy of a former LBO in the hospitality space. The WSJ is reporting that Red Roof Inns has defaulted on $332 million of mortgage debt.

  • Fine Dining Bites Back at the Crunch in UK Friday, 19 Jun 2009 | 11:26 AM ET

    Savvy consumers swarmed to London's Regent Park Thursday for the opening of Taste of London's four-day gourmet food festival. The event was teaming with cost-conscious foodies getting a chance to taste the wares of Michelin-starred chefs for a fraction of the price.

  • Bill Ford: Small Cars Will Be 'Profitable' Monday, 15 Jun 2009 | 8:29 AM ET

    Although GM and Chrysler’s bankruptcy may be playing into Ford Motor’s strong June numbers, "it’s really our products that are getting the best reviews they’ve ever gotten," said William Ford, executive chairman of Ford Motor in a live interview on CNBC.

  • Auto Dealers at Risk Turn to Washington Friday, 12 Jun 2009 | 11:03 AM ET
    Empty GM Dealership

    Auto dealers accustomed to negotiating sales on their car lots clustered in the Capitol instead this week, looking to their trusty, neighborhood lawmakers to do some hard bargaining for them.

  • Michigan Works to Remake Itself Without King Auto Wednesday, 10 Jun 2009 | 11:14 AM ET

    The economic crisis has been so severe that Michigan, with a $1.4 billion budget shortfall, is closing eight prisons to save money. It is also canceling more than 130 road and bridge repair projects because the state cannot come up with enough money to get matching federal funds.

  • Chrysler Back in Court to Get OK to Dump Dealers Tuesday, 9 Jun 2009 | 2:48 PM ET
    Chrysler Bankruptcy

    Chrysler headed back to bankruptcy court Tuesday to get a judge to approve the termination of 789 dealer franchises, while Chrysler's plan to become a stronger automaker partnered with Italy's Fiat awaits action by the nation's highest court.

  • Chrysler Bankruptcy

    A U.S. appeals court said Friday it would conditionally approve Chrysler's sale to Fiat but is keeping the deal on hold until Monday to allow an appeal.

  • An Auto Ad Upturn Ahead? Thursday, 4 Jun 2009 | 4:14 PM ET

    The media, including myself, has been buzzing about the ongoing doom and gloom for the advertising industry as automakers continue to pull back their marketing spend. But now we're hearing about some green shoots (if you will) for auto ads.