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REPORT: If Chrysler liquidates, 38,500 jobs would be lost

A court filing by the legal firm Jones Day estimates that 38,500 Chrysler workers will lose their jobs if the bankrupt automaker fails to quickly form an alliance with Fiat SpA and is forced to liquidate. In addition, if the deal with Fiat is rejected Chrysler LLC employees will lose $9.8 billion in benefits and $2 billion in pension payments, according to the legal team. "Time is of the essence," said attorney Corinne Ball. The lawyers, in court seeking to organize the company's 25 affiliates into a one bankruptcy proceeding, stressed in ... Read more →

TRUST successfully reorganized in Japan, GReddy in the U.S. churning along Damon Lavrinc

This past September, Trust Co. LTD – the parent company of GReddy Performance Products in the U.S. – declared the Japanese equivalent of Chapter 11. According to a release from the ...

GM suing supplier to keep Camaro production going Jonathon Ramsey

Every time GM turns a corner it seems to come face to face with another obstacle. The latest setback concerns supplier Cadence, LLC, which provides interior parts for the 2010 Camaro. Cadence ...

POLL: Would you buy a car from a company in bankruptcy? Sam Abuelsamid

GM stock drops below $10 per share Michael Harley

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REPORT: If Chrysler liquidates, 38,500 jobs would be lost 7 months ago on Autoblog

TRUST successfully reorganized in Japan, GReddy in the U.S. churning along 8 months ago on Autoblog

This past September, Trust Co. LTD – the parent company of GReddy Performance Products in the U.S. – declared the Japanese equivalent of Chapter 11. According to a release from the aftermarket parts supplier, Trust has successfully completed the reorganization process (known in Japan as ...

GM suing supplier to keep Camaro production going 11 months ago on Autoblog

Every time GM turns a corner it seems to come face to face with another obstacle. The latest setback concerns supplier Cadence, LLC, which provides interior parts for the 2010 Camaro. Cadence declared bankruptcy in August, and is now in liquidation proceedings. To GM's chagrin, joining Cadence in ...

POLL: Would you buy a car from a company in bankruptcy? 1 year ago on Autoblog

In recent weeks, the idea that one or all three of Detroit's automakers could end up filing for chapter 11 bankruptcy protection in the coming weeks or months has gained a lot of momentum. In theory, the advantage of chapter 11 is that it provides protection from creditors while the company is ...

GM stock drops below $10 per share 1 year ago on Autoblog

After Merrill Lynch hinted bankruptcy concerns yesterday, and other Wall Street analysts spread additional gloom, shares of General Motors dropped $1.77 to close at $9.98 -- GM's lowest close in more than 50 years. While GM stock on Tuesday showed a bit of promise on the news that sales only dropped ...

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Autoblog Podcast #154: Gobbling up the News

Chris, Sam, and Dan kick out a podcast just in time for the long holiday drive.

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