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chapter 11

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    Ford reacts to Chrysler bankruptcy
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    Although the automotive industry has been bracing for a Chrysler bankruptcy for some time, last week's official announcement of a Chapter 11 filing still came as a shock. One of the long-held assertions about bankruptcy was that once one domestic automaker filed, the others would eventually be ...

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    AP: Chrysler definitely filing for bankruptcy after debt talks "crumbled overnight"
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    Building on speculation that first leaked yesterday is word this morning that a pair of Obama administration officials have told The Associated Press that Chrysler will indeed file for bankruptcy. The decision was apparently reached after debtor negotiations with hedge funds "crumbled overnight."If ...

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    Fiat CEO Marchionne: "If I was a betting man, I would suggest Chrysler is going to fall into Chapter 11"
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    After yesterday's Chrysler news regarding the first-lien holders and the U.S. Treasury coming to terms, we hope none of you thought the Pentastar had gotten off the see-saw. The latest tidbit comes from Fiat CEO Sergio Marchionne, but it comes via CAW head Ken Lewenza. According to Lewenza, ...

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    GM, Task Force preparing for "surgical" bankruptcy
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    According to a lengthy report by the New York Times, the Treasury Department is directing General Motors to begin work on a bankruptcy filing by June 1. Based on sources close to the talks who were unable to officially discuss the process, the report outlines the "fast 'surgical' bankruptcy" of the ...

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    REPORT: General Motors in "intense" bankruptcy preparations
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    According to an unnamed source speaking with Reuters, General Motors "is in 'intense' and 'earnest' preparations for a possible bankruptcy filing." The report states that GM could be split into two separate entities; one "new" unit consisting of the General's successful brands (read: Chevrolet and ...

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    Flying J grounded, files for Chapter 11 bankruptcy
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    Whenever we drive from Los Angeles to Phoenix, we always stop at the Flying J in Blythe, California to refuel - and that might mean "refueling" on coffee, trail mix and a rented audiobook instead of gasoline. As it turns out, though, our favorite truck stop chain's production, refining, and ...

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    Sad day: ASC files for Chapter 11
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    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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    Delphi dumping unprofitable contracts with GM
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    It's been a year since Delphi filed for Chapter 11 bankruptcy protection, and the supplier is still trying to find ways to return to profitability. One of the things it's identified as a way to get back into the black is ridding themselves of unprofitable contracts with General Motors. They have ...

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    Delphi seen improving, given more time by judge
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    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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