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    UPDATE: Greddy in U.S. still good to go

    In a follow-up to our previous post about Trust's bankruptcy filing in Japan earlier this week, GReddy – Trust's U.S. arm – has issued a press release (available after the jump) to assure Stateside consumers that all is well and operations will continue in the U.S. unabated.According to ...

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    GM stock drops below $10 per share

    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 ...

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    European coachbuilders will sink or swim in changing market

    We've posted a number of articles in recent months about coachbuilders like Pininfarina and Bertone finding themselves in financially troubled waters. The difficulties these and other independent manufacturers around Europe are suffering now appear to be part of a larger trend that's forcing these ...

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    Sad day: ASC files for Chapter 11

    Anyone who knows even a little bit (like I do) about American Specialty Cars is usually fascinated. After all, this is the company behind the Buick GNX, but it's also the company behind the Chevy SSR. Unfortunately, the latter vehicle was the one that did ASC in. According to Automotive News, ASC ...

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    Riding out the storm: Ford applies for $18 billion restructuring package

    Ford announced today that it plans to acquire a financing package worth a heady $18 billion. The extra money will ensure that Ford survives the next couple of years while Alan Mulally and company attempt to turn the automaker around and bring profits back to the Blue Oval. Automotive News reports ...

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    Tower Automotive reaches deal with unions

    Just a few months ago, based on its threat to cancel union labor contracts, Tower Automotive appeared on the brink of a work stoppage - an event that would have halted a significant amount of North American vehicle production. Now we can all breath a bit easier, as the bankrupt supplier has reached ...

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    Delphi seen improving, given more time by judge

    U.S. Bankruptcy Judge Robert Drain agreed yesterday to extend Delphi's deadline to submit its reorginization plan from August 5th to February 1st of next year. Judge Drain apparently sees the embattled company as making significant progress with buyouts and the early retirement of thousands of ...

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    Delphi reaches agreement on buyouts with UAW, GM

    Delphi has reached a buyout agreement with the United Auto Workers and General Motors. Announced Friday, the deal will extend buyout offers to each and every hourly worker, giving all UAW-represented employees (around 22,000 out of 31,000 Delphi employees)  a chance to bail with a safety net. ...

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    General Motors requests two months for Delphi, unions, to work out deal

    Bloomberg reports that General Motor submitted a request to a judge overseeing Delphi's bankruptcy case to adjourn the hearings for up to two months. The latter are scheduled to begin on May 24. According to GM spokesperson Jerry Dubrowski, the automaker asked for the request so that it, Delphi, ...

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    Visteon turns a profit(!)

    "Restructuring, improving base operations and growing global business" were the Big Three for Visteon in first quarter, who turned a profit, despite lower revenues. Following the news, shares rose $1.14 to $7 on the New York Stock Exchange, a substantial 19 percent improvement. Net ...

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    What's next for Delphi?

    While much ink has been devoted to Delphi's bankruptcy court request to terminate its labor contracts with the UAW and other unions, that event was only one step along the path to possible confrontation with the unions (albeit a very big one).Over at, Joseph Szczesny has ...

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    GM building "strike bank" in preparation for Delphi walk-out

    Rick Wagoner, embattled head of General Motors, appeared on CBS's "Face the Nation" Sunday morning news program, and confessed that GM is stockpiling parts and complete vehicles in an attempt to protect the automaker in case its spin-off supplier Delphi decides to strike. Indeed, this ...

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    Read Bill Ford's lips: No bankruptcy for Blue Oval

    Ford Motor Company’s Chairman and CEO Bill Ford is ruling out bankruptcy for the Blue Oval. The Henry Ford scion believes that the company’s ‘strong liquidity’ ($31 billion in the coffers), downsizing efforts and profitable overseas operations will buoy the No. 2 ...


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