General Motors filed for Chapter 11 bankruptcy protection Monday and all eyes are on the U.S. government's 60 percent equity stake in the auto maker. What does this bode for the stock market? Art Cashin, UBS Financial Services director of floor operations, offered CNBC his insights.
President Obama couldn't let General Motors fail, but he won't concede he's taking over the company.
President Barack Obama is defending the government's intervention in the auto industry, saying the collapse of GM and Chrysler would have been devastating for the economy and American workers.
Stocks advanced Monday as investors were encouraged by economic reports out of China and the U.S. and shrugged off the General Motors bankruptcy filing.
John Wolkonowicz, senior analyst at IHS Global Insight, and Alex Taylor, senior editor at Fortune Magazine, discussed the General Motors’ bankruptcy and the future of the automobile industry.
Often when a company is added to a major index, it sees a lift in its share price both from the publicity as well as from the need for tracking funds to buy the new components. But is there an arbitrage play to profit even more?
I have been repeatedly asked why GM is trading UP this morning (to over $1.00!) when the common stock is worthless. Are traders stupid?
With the General Motors filing for bankruptcy today, that left a vacancy in one of the most exclusive and prestigious clubs in all of finance. And I would have made the case that Apple Inc. ought to fill GM's slot on the Dow Jones Industrial Average.
General Motors' bankruptcy filing on Monday comes at no surprise, said Bob Doll, BlackRock vice chairman.
General Motors filed for Chapter 11 bankruptcy protection in New York Monday. Here are following is the list of the largest trade creditors:
AutoNation CEO Mike Jackson says buyers are coming to car showrooms, but the credit isn't there to make the sales.
With Chrysler and General Motors in bankruptcy and under the ‘de facto’ if not ‘de jure’ management of the U.S. Government, the hue and cry emanating from the pundits and politicians and television journalists and on and on wails, “What is left of the American auto industry?”
For General Motors workers and others across the nation, reaction to the automaker's historic bankruptcy filing Monday and the effect on their plants and lives ranged from resignation to fear.
General Motors filed for Chapter 11 bankruptcy protection Monday. Following is a list of GM plants that will be put on standby or closed.
S&P crosses 200-day moving average of 928. If we can close over 928, it will be the first time we close over the 200-day moving average in 18 months. This is an important technical level.
With GM about to experience the vagaries of bankruptcy court, the pain process of debt deleveraging and job losses begins. This is necessary and is indicative of where we are in the ultimate end game for the economy.
With General Motors about to follow Chrysler into bankruptcy, the nation’s ability to bounce back from the steep recession is being hobbled, the New York Times reports.
As he announces his plan to run an auto company this morning, President Obama will again assert that he has no interest in running an auto company.
While GM is grabbing the headlines, stock traders over the weekend were talking about: The continuing strength of the China/commodity play.
Somewhere Walter P. Chrysler and Alfred Sloan are shaking their heads. The men who left an indelible impression on the American auto industry must be watching what will happen today and wonder, "do these guys really have a shot at making it?"