General Motors gets a new general counsel effective March 1 with the hiring of Craig Glidden to take the spot of the automaker's top attorney from long-time employee Michael Millikin.
As another costly Ford Explorer rollover lawsuit finally bogs to a close, the attorneys have again emerged standing on top of the flotsam. This suit, filed in California on behalf of consumers in four states who leased or bought 1991 to 2001 Ford Explorers, alleged the rollover problems associated with their vehicles diminished resale values (the lawsuit excluded personal injuries or wrongful death claims). The final settlement, authorized by a Sacramento County Superior Court Judge, awarded eac
Attorneys from Jones Day law firm representing Chrysler during bankruptcy have taken the unusual step of asking the judge to "give their fees special priority." Two reasons have been hypothesized for the move: the lawyers don't think there will be any money for trade debts from the leftover pieces of Chrysler; or the maneuver could be a ploy to get secured lenders to accept the proposed sale of Chrysler as is by suggesting that what's on the table now is as good as anyone is going to get.
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.
Of all people and of all places. Normally, California is the state that launches all sorts of initiatives that drive carmakers into a frenzy. Now, The Golden State is the one asserting that the national government might need to drop a few billion large to save The Big Three -- with a few left-handed compliments to go with it, of course.
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