GM’s (GM) creditors have rejected a program that would have swapped most of the auto company’s debt for equity, effectively driving the firm into Chapter 11. The century that began with the mass production of…
Reuters: GM (GM) is close to filing Chapter 11. Reuters: A poll of economists says the US recession will end soon followed by modest growth. Retuers: The mood of US consumers rose…
The UAW took what it could get in its negotiations with GM (GM), and that was not much. The union will end up owning 17.5% of GM’s shares to fund retirement and…
Douglas A. McIntyre Reuters: Bears control the dollar because of concerns about the deficit and heal of the US economy. Reuters: Crunch time looms for the GM (GM) and Chrysler restructurings. Reuters: The US is…
The Administration is starting to face some resistance in Congress to its plan to put GM (GM) into Chapter 11 using Treasury money to sustain the company as it works it way…
Douglas A. McIntyre Now that GM (GM) has a reasonable deal in place with the UAW, the federal government is preparing the car company for a Chapter 11 filing which may come ahead of the…
Douglas A. McIntyre Reuters: Chrysler is already seeing positive effects from bankruptcy. Reuters: The US is working with GM (GM) on a Chapter 11 filing as the June1 deadline looms. Reuters: Pimco’s Gross says US…
The federal government will end up owning bits and pieces of businesses including banks, car companies and insurance firms as it puts money into industries weakened by the recession. The Achilles Heel…
Reuters: The Treasury is keeping banks guessing about when they can repay TARP funds. Reuters: Bank of America (BAC) has raised more than $13 billion in share sales. Reuters: Hewlett-Packard’s (HPQ) financial…
Chrysler and GM will force 2,000 car dealerships to close. This event has elicited a great many opinions from industry experts. The consensus is that the most damage to the car companies…
Reuters: Twitter will release business tools in an attempt to make money. Reuters: A GM (GM) bankruptcy is seen as nearly inevitable. Reuters: American Express (AXP) will cut 4,000 jobs. Reuters: Obama…
Reuters: Small businesses are having trouble finding financing. Reuters: VW has stopped tie-up talks with Porsche. Reuters: The US budget chief says there are signs the economic free fall is over. Reuters: …
GM (GM) is about to notify about 20% of its dealer network that it will not renew its contracts with them when they expire next year. By most estimates well over 1,000…
GM (GM) is getting close to a deal with the UAW which will allow the auto company to lower its annual expenses by $1 billion. It will also lead to the layoffs…
Douglas A. McIntyre Reuters SEC employees are under investigation for insider trading Reuters Treasury has approved several insurance companies for receiving TARP funds Reuters GM (GM) is close to a deal with the UAW. Reuters Bank…
