bankrutpcy


GM chairman Kresa admits: "Time is not on our side on trying to get things done out of bankruptcy"

If General Motors' saga were a play by Aeschylus, today marks the day when Kent Kresa, GM's interim chairman, returns from a visit to the Oracle at Delphi and informs everyone that the signs are not auspicious. There's been much talk of the bondholder issues that GM faces, and the news today is that the deadline for the debt-for-equity transaction isn't June 1 -- it's this Friday. That's when a bondholder agreement would need to be in place so GM would have everything sorted before its upcoming bond payment is due. That time-line caused Kresa ... Read more →

Saab files for bankruptcy in Swedish courts, wants $1B Sam Abuelsamid

General Motors confirmed this morning that Saab's days as a part of the Detroit-based company are numbered. The Swedish brand has filed paperwork with courts in its home country for reorganization ...

GM stock drops below $10 per share Michael Harley

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 ...

GM chairman Kresa admits: "Time is not on our side on trying to get things done out of bankruptcy" 8 months ago on Autoblog

If General Motors' saga were a play by Aeschylus, today marks the day when Kent Kresa, GM's interim chairman, returns from a visit to the Oracle at Delphi and informs everyone that the signs are not auspicious. There's been much talk of the bondholder issues that GM faces, and the news today is ...

Saab files for bankruptcy in Swedish courts, wants $1B 9 months ago on Autoblog

General Motors confirmed this morning that Saab's days as a part of the Detroit-based company are numbered. The Swedish brand has filed paperwork with courts in its home country for reorganization that would lead to its independence. This self-managed reorganization is analogous to the U.S. Chapter ...

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 ...






Autoblog Podcast #156: Paukert comes back for more! 

Chris, Dan, and Editor Paukert chat and give each other grief. Merriment ensues.

 
 

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