News
Chrysler Bankruptcy Opponents Appeal to the US Supreme Court
By Chris Haak 06.08.2009 Last week, the US Bankruptcy Court approved the sale of the desirable parts of Chrysler's assets to a new holding company controlled by Italy's Fiat...
GM CEO Henderson Says That GM Will Shake Up Management
GM CEO Fritz Henderson said yesterday that the company would have "changes ahead" in senior management ranks, though said that he needed more time to finalize the changes. Many...
GM Reaches Prelminary Deal to Sell Saturn to Penske
Moving quickly to shed itself of parts of the so-called "Old GM," GM has agreed to a preliminary deal to sell its Saturn business to Penske, according to anonymous "people...
General Motors Declares Chapter 11 Bankruptcy
General Motors Corporation, once the world's largest automaker and (at least for the time being) the largest automaker in the US, filed for Chapter 11 bankruptcy protection in...
Report: Porsche Nearly Declared Bankruptcy in March
By Chris Haak 05.26.2009 My, how the mighty have fallen. The self-promoting "most profitable automobile company in the world" that owns a controlling interest in Volkswagen...
Chrysler Releases List of 2,392 Dealers Surviving – and 789 Who Won’t
Bankrupt automaker Chrysler LLC released two lists of dealers yesterday. One is a list of 2,392 dealers that it would like to retain as it reorganizes in Chapter 11, and the...
Obama Announces Chrysler Bankruptcy, Says It Will Be Quick
By Chris Haak 04.30.2009 And so here we are, at another crossroads in the star-crossed history of Chrysler. Today at a noon news conference, President Obama announced that...
General Motors’ Bankruptcy Imminent Within 30 Days
By Chris Haak 04.28.2009 I really don't enjoy writing about bad news. I'd much rather rave about how the exhaust note of a Corvette at full bore made the hair on my arms stand...
GM’s CFO Says Company Will Skip $1 Billion June 1 Debt Payment
By Chris Haak 04.22.2009 GM's Chief Financial Officer, Ray Young, told reporters at a Chinese auto summit in Detroit (how appropriate!) today that GM would not be making a $1...
Toyota Prices 2010 Prius Below 2009 Model
By Chris Haak 04.21.2009 Today, Toyota released pricing information on its forthcoming 2010 Prius, which hits Toyota dealers nationwide in late May. It's great news for...