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With one week left before Chrysler faces the very real prospect of filing for Chapter 11 reorganization, and potentially a Chapter 7 liquidation, GM is acting like a company already in bankruptcy. In other words, the end game is almost here. As we're seeing now, it's messy and everyone involved will be feeling the pain.
For Chrysler President Jim Press, trying to convince people his company is not going bankrupt is an uphill battle.
When I was first asked to moderate a question and answer session with California Governor Arnold Schwarzenegger, I immediately thought, "What a delicious opportunity to talk to a man who has told Detroit to 'get off its butt' and start building the next generation of cars and trucks people want."
My post about car shopping touched a nerve — my inbox was flooded. Of course, this was one couple's experience, so we asked readers to share their experiences and thoughts on the post. Here's what they had to say.
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.
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.
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.
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.
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.
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.
Shortly after the doors opened to press days at the New York Auto Show someone asked me, "Do these auto shows really serve a purpose anymore?"
As I walk around the New York Auto Show and talk with executives from GM, Toyota, and Chrysler there is one question you hear over and over: Are buyers actually coming back into showrooms?
The first time you see the new PUMA (Personal Urban Mobility and Accessibility) 2 seat ride, you think to yourself, "well, that's pretty cool."
Ford rose 16 percent yesterday after reducing its debt by $10 billion and had plenty of options activity along the way.
Remember when Ford shares touched $1.01 a few months back and people were speculating about when the troubled automaker was "forced" into bankruptcy? Those days seem like a distant memory.
In the week since President Obama's Auto Task Force decided GM and Chrysler were not viable, much of the focus has been on the future of GM, who runs the company, and how the country can save its largest auto maker.
Shares of Mitsubishi Motors jumped to a three-month high on Friday after a newspaper said the automaker would double its annual production capacity target for electric cars in the business year to March 2012.
With members of President Obama's Auto Task Force hitting the ground in Detroit, the re-structuring of General Motors kicks into gear. Monday in Washington may have been all about justifying and selling the government calling the shots at GM, but Tuesday in Detroit is when the president's people get to work. No wonder critics are now saying GM now stands for Government Motors, not General Motors. So what happens next?