bankruptcy

Rabbit. Hat. If this whole making cars thing doesn't pan out, Victor Muller and his team at Swedish Automobile N.V. would appear to have an excellent career in magic ahead of them. The executives behind troubled automaker Saab have earned the right to reorganize under government protection ...

After a protracted battle for financial stability, Saab has filed for government protection. The official filing submitted this morning in Sweden isn't a liquidation, however, it's a bid for reorganization with the assistance of a government-appointed independent overseer. Saab boss Victor ...

To say that Saab has had a rough 2011 would be one heck of an understatement. Sales are trickling slowly, the automaker's Trollhattan plant hasn't consistently produced vehicles since late April because suppliers weren't getting paid, and a failed alliance is making the Swedish automaker look ...

When Ener1 abruptly ended its four-year-long deal with Think Global, saying that its investment was "impaired," we had reason to worry. Now comes word that the struggles continue to mount at Think Global and that the automaker has filed for bankruptcy. Again. According to a statement released by ...

There were some raised eyebrows after Ford CEO Alan Mulally raked in $26.5 million in 2010, even after the company realized a healthy profit and significantly improved sales. But while Mulally got a big check for being instrumental in the company's high-profile turnaround, he wasn't even the ...

General Motors has been given the go-ahead to begin selling off the remaining old GM assets as part of the automaker's restructuring plan. According to The Detroit News, a federal bankruptcy judge approved the plan after a day-long hearing. Judge Robert E. Gerber is expected to issue a written ...

German wheel manufacturer BBS has declared bankruptcy, and it's not the first time. Back in 2007, BBS was plagued with financial difficulties but Punch International stepped in to provide much-needed capital. The news of a second bankruptcy, which was filed on December 30, apparently came as a ...

Once again, General Motors has found itself in hot water with the United Auto Workers. Way back when in 2007, GM signed a deal with Delphi to provide a total of $450 million for the UAW's Voluntary Employee Beneficiary – a trust set up to provide for retiree benefits, especially health care. ...

Lost in the hoopla surrounding General Motors' attempted sale/wind-down of Saab and Ford's situation with Volvo and Geely has been any word surrounding the sale of Hummer to China's Sichuan Tengzhong Heavy Industrial ...

When General Motors was on the verge of bankruptcy, cuts were made to salaried workers' pay and benefits. The move was important to help preserve as much cash as possible while also showing the federal government and the United Auto Workers that everybody in the company was making a sacrifice. Some ...