12 Articles
Report: UAW files suit against GM over $450M Delphi debt

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. So far, GM hasn't been willing to hand over the dough, and the UAW has decided to take The General to court over the issue.

Koenigsegg reportedly rejects 81 out of 218 U.S. Saab dealers

2010 Saab 9-5 - Click above for high-res image gallery

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

Group says Chrysler resale value slips 6% in week following bankruptcy filing

Tipping after Chrysler LLC filed for bankruptcy, the automaker's Dodge, Chrysler, and Jeep branded vehicles are facing rapidly dwindling resale values according to a research group. In a report by the Automotive Leasing Guide, secondary values are down an average of 6% across the board for most three-year-old Chrysler vehicles.

Champ Car files for bankruptcy

The fallout from the Indy Car/Champ Car merger has begun to rear its ugly head. First, superpower team Forsythe Racing announced its departure from the scene. and now Champ Car has officially filed for bankruptcy. The disruption of the scheduled 2008 Champ Car season leaves contracts broken and bills to pay,

Delphi lost $2.4 billion in 2005

We know, June is a little late to be releasing your annual report for the prior year, but Delphi was forced to wait until discussions with GM and its own unions concerning wage and benefit reductions bore some fruit. That fruit came in the form of an agreement with GM for a historical attrition plan that has seen 12,600 Delphi employees and 35,000 GM workers agree to job transfers, buyouts and early retirement.

Delphi reaches agreement on buyouts with UAW, GM

Delphi has reached a buyout agreement with the United Auto Workers and General Motors. Announced Friday, the deal will extend buyout offers to each and every hourly worker, giving all UAW-represented employees (around 22,000 out of 31,000 Delphi employees)  a chance to bail with a safety net.

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

GM CEO Wagoner readying his golden parachutes?

Is General Motors’ embattled CEO, Rick Wagoner, close to resigning? The Car Connection is reporting that the GM water cooler rumor mill is crankingup, and we’ve got to admit that we heard a substantive rumor or two about the ex

GM's bankruptcy = Ford's biggest nightmare?

Robert Farago of TheTruthAboutCars.com (TTAC) has checked in with General Motors Death Watch 60, in which he discusses how General Motors' possible filing for bankruptcy would adversely affect the Ford Motor Company, as the two automakers utilize many of the same suppliers. After systematically discussing GM’s numerous problems (product, the UAW, leadership, e