Chapter 11
American Suzuki Declares Chapter 11, To Withdraw From U.S. Market
Well, the writing has been on the wall for years, but now it's official: Suzuki will stop selling new passenger vehicles in the U.S. The company filed for Chapter 11 bankruptcy...
Chrysler To Refinance Debt, Repay Government Loans
By Chris Haak Probably due to its much larger size, GM's bailout and repayment of some government loans has drawn far more attention than the assistance provided to Chrysler...
Toronto-Dominion Bank To Buy Chrysler Financial
By Chris Haak Toronto-Dominion, the second-largest bank in Canada based on deposits, announced today that it has acquired Chrysler Financial. Chrysler Financial has had a...
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...
GM Reports First Quarterly Profit Since 2007
By Chris Haak General Motors Company has released its first quarter 2010 earnings report, and the news is actually pretty good for a change. Helped by massive restructuring,...
GM May Return to Captive Finance
By Chris Haak Back in 2006 when GM sold a 51 percent controlling stake in GMAC to a consortium led by Cerberus Capital Management, many saw it as a sign that the company was...
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...