5 Articles
Followup: Auctioneer Kruse ordered to pay bank $1.3M, has jet repo'd

The walls are closing in on Dean Kruse, head of the Indiana-based Kruse International auction house. In September, a slew of lawsuits were filed against the company. Further opening the wound, a county court in Indiana has now ordered Kruse to pay more than $1.3 million to a bank in Warsaw -- just one of several debtors seeking money from the company -- for an overdue loan originally i

Bloomberg says GM to file for Chapter 11 bankruptcy on Monday

Despite today's word of coming to terms with its major shareholders on a debt-for-equity swap, Bloomberg is reporting that General Motors will join Chrysler in filing for Chapter 11 bankruptcy on Monday. The move is widely expected, but the news agency is adding a bit of flesh to the story, suggesting that what promises to be the third-largest bankruptcy in U.S. history (aft

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).

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 comes as little surprise to those who have noted the unusually large discrepancy between GM first-quarter sales and production figures. Wagoner admits that the strike bank wo