gmbankruptcy

Look, you're a car person, I'm a car person... we're car people. As such, friends, family and the watercooler crowd are depending on us to explain what the hell is going on with General Motors filing for Chapter 11 bankruptcy. So that we don't all end up regurgitating the five-second sound bites ...

There are lots of places you can find official information about what's happening to General Motors right now. In addition to www.gm.com/restructuring, GM has also launched a new website called re:invention. ...

Just before noon EST, President Obama gave a press conference concerning this morning's General Motors Chapter 11 bankruptcy filing. The man who made hope cool again tried to put as positive a spin as possible on the automaker's decision to file, claiming a "viable, achievable plan" is in place ...

On top of the 1,124 General Motors dealers that will be closed next year, the ailing automaker is reportedly going to announce another round of dealer closings on Monday when its bankruptcy declaration is expected. According to two Automotive News sources, 450 dealers will not see their dealer ...

Yesterday, General Motors and its bondholders had officially called it quits, and GM was headed for a certain and certain-to-be-rocky bankruptcy. Today, according to a company filing, The General and the necessary chunk of its bondholders have come to an agreement, and the company looks to be ...

The situations with GM and Chrysler are beginning to look like what happens after a fumble in an NFL game: a dozen men pile on top of each other all trying to get the ball. The difference in the case of GM and Chrysler is there are far more than two teams struggling for the prize. The latest to hop ...

It looks like the German government is about to announce its list of preferred bidders for Opel this week, and the list is likely to include Fiat and Magna. Why would this list be coming from Chancellor Angela Merkel's spokesman and not, say, GM? Because the German government will have to step in ...

After two weeks of intense negotiations, General Motors Canada and the Canadian Auto Workers (CAW) union have reached a deal that will help the automaker cut costs, allowing it to meet the terms for additional government loans. Ken Lewenza, head of the CAW, said it was "a struggle" to reach a deal ...

Though we were just warned that new deals between General Motors and the major auto unions in the U.S. and Canada were unlikely to be completed by their May 27 deadline, word has begun spreading that a tentative agreement has been reached between GM and the United Auto Workers union. While there's ...

Not that it should come as a major shock to anyone paying attention over the last few weeks, but in a regulatory filing submitted by General Motors on Tuesday, the beleaguered automaker has admitted that it's unlikely to have acceptable deals negotiated with the either the United Auto Workers or ...

Rock, meet hard place. With General Motors handed a directive from the White House to be ultra-aggressive in its restructuring in order to secure more government loans, the automaker is making cuts everywhere and dealers are far from immune. As reported previously, GM's plan to shrink its retailers ...

We're up to a buck and a quarter, and Episode #125 of the Autoblog Podcast is nearly a half-hour of value. Chris, Sam, and Dan jump in and cover a slew of recent topics. To start, Sam recounts his recent drive in a Cruze-based ...

As in a basketball game when players are yanking on jerseys trying to block each other out under the basket, General Motors and Chrysler's creditors have officially begun jockeying for position. Michigan's Attorney General, Mike Cox, has sent letters to the CEOs at both companies to ask that, if ...

The familiar expression goes "Better the devil you know," meaning it's preferable to deal with the nasty things you don't like but are at least familiar with. General Motors, however, doesn't seem to think so. The troubled automaker appears more ready to take its chances with bankruptcy than ...

Is that 'B' as in bankruptcy or 'B' as in bailout? Probably 'B' as in both. Regardless of the buzzword you choose to slap on the respective situations General Motors and Chrysler find themselves in, it's not good, and Ford realizes this fact just as clearly as the rest of us. In response, the Blue ...

While several General Motors divisions and assets could face the axe if the troubled auto giant were to declare bankruptcy (or even if they don't), Opel would not necessarily be one of them, according to emerging financial reports from Europe. The German division has access to its own funds, which ...

June 1, 2009 is turning into the equivalent of General Motors' D-Day, and every day seems to bring new events that are being planned in advance of it. GM had more than 6,000 dealerships at the end of last year, and in the initial viability plan it offered to the government, the automaker pledged to ...

When the president tells you to sharpen your pencil and improve your last-ditch survival effort, it's time to grab the big eraser. According to reports, General Motors may ditch its GMC and Pontiac brands to demonstrate just how serious it is. If the auto lines go, GM would be pared back to ...

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 ...

The world's largest automakers are intertwined in a myriad of ways and they need to watch their competitors in both good times and bad. When talk of a GM bankruptcy was first floated, the discussion of the effects naturally led to GM's suppliers. That discussion then led to what the effects would ...