bankruptcy
Opel Withdraws State Aid Requests; GM Will Finance Restructuring Itself
By Chris Haak Less than a week after the German government declined to provide the state aid that Opel requested to partially fund its restructuring, GM's European arm has...
Geithner Claims “Reasonable Chance” GM and Chrysler Will Repay Aid
But of course, there's a catch. By Chris Haak US Treasury Secretary Timothy Geithner told the Senate Appropriations Subcommittee that taxpayers were still at risk of loss from...
Is GM Overhyping its “Loan Repayment?”
By Chris Haak Since Wednesday, GM has been making a big deal about its repayment of the remaining $5.8 billion balance of government loans ($4.7 billion to the US and $1.1...
Congressional Panel Calls for GMAC Breakup
By Chris Haak The Congressional Oversight Panel, created by Congress to oversee the Treasury's spending of Troubled Asset Relief Program (TARP) money, said late last week that...
GM Will Reinstate 661 Rejected Dealerships
By Chris Haak The saga of rejected dealerships - a fallout of the bankruptcies last year of both GM and Chrysler - took another dramatic turn in the past 24 hours. GM announced...
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...
GM Tells Government It Won’t Need $2B Loan Installment for March 2009
By Chris Haak 03.12.2009 In a very rare bit of good news for GM, the company has told the Obama Administration's auto task force (the Presidential Task Force on The Auto...
Auditors Raise Doubts on GM’s Ability to Survive
By Chris Haak 03.05.2009 We mentioned just last week in our "Check Your Mirrors" news summary that GM's auditors, Deloitte & Touche, were likely to slap the company with a...
Check Your Mirrors
By Chris Haak 02.27.2009 Already-reeling Saab had to halt production this past week when a wrinkle occurred between a supplier of parts imported to Sweden and Swedish customs. ...
GM No Longer Considers Chapter 11 Filing Off The Table
By Chris Haak 02.16.2009 With the economy in the US and globally showing no signs of improvement, and the new-vehicle market showing no signs of life, the cash situation at GM...