The government bailout of General Motors includes a valuable prize for the ailing carmaker: a tax break that could save GM and its future investors more than $12 billion.
Shares of General Motors have fallen below $1 for the first time in 76 years as a Chapter 11 bankruptcy filing for the automaker appears increasingly likely.
Stocks wobbled Friday as investors were encouraged by a jump in consumer sentiment less-bad GDP report but still remained a bit jittery. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
After five months and $19.4 Billion in federal aid, three restructuring plans, and the removal of one CEO, General Motors is locked, loaded, and ready to file for Chapter 11 Bankruptcy protection on Monday.
Stock index futures indicated a higher open for Wall Street Friday after the latest GDP report showed the economic decline began to slow in the first quarter.
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The Obama administration estimates that any GM bankruptcy would take at least 60 to 90 days and perhaps longer, a senior official said.
Stocks ended higher Thursday as crude prices climbed after an inventory pare-down and the results of the Treasury bond auction eased concerns about government debt.
Stocks rebounded on Thursday as crude prices climbed. The market had gotten off to a wobbly start, as investors juggled a bleak report on new-home sales with the unexpected drop in jobless claims and GM's deal with bondholders. Here's what the experts had to say...
It's never a wise thing to predict a smooth bankruptcy. Especially when you you are dealing with a company as large, as complex, and as loaded down with debt as General Motors.
Stocks rebounded Thursday as crude prices climbed after inventories were pared more than expected. Stocks had gotten off to a wobbly start as investors juggled a bleak report on new-home sales with any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.
Chrysler is hurtling through the bankruptcy process and appears on track to emerge soon as a new company, just one month after its Chapter 11 filing. Then the hard part begins. The New York Times explains.
Stocks retreated Thursday, after a higher open, as bleak report on new-home sales overshadowed any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.
Stocks opened higher Thursday after an unexpected drop in initial jobless claims.
Futures held onto gains Thursday after an unexpected drop in initial jobless claims. However, the gains were muted as Dow component P&G slashed its outlook.
Someone needs to protect retail investors from this all but worthless stock, the Mad Money host says.
Stocks finished near session lows Wednesday as rising bond yields on government debt raised concern that borrowing costs are going to start going up and tamp down the economic recovery.
The Obama administration continues to try to facilitate a long-shot debt-reduction agreement with reluctant General Motors bondholders despite a bankruptcy deadline.
The future of Chrysler hung in the balance Wednesday as it prepared to ask a bankruptcy judge for permission to sell the bulk of its assets to a group headed by Italy's Fiat in hopes of saving itself from liquidation.