Big Three, Restructuring | featured news

Ford 2010 profit highest in a decade as sales rise

Ford earned its largest profit in more than a decade in 2010, as demand for its cars and trucks rose and it benefited from years of restructuring.

 

G.M. to Maintain Legal Liability for Claims

G.M. to Maintain Legal Liability for Claims

The deal between General Motors and the Obama administration solves a problem that could have troubled the company’s plan for quick restructuring.

 

Bondholders accept GM equity offer, setting stage for bankruptcy

Bondholders accept GM equity offer, setting stage for bankruptcy

A majority of bondholders agree to swap their debt for a stake in a reorganized GM, which is expected to file for Chapter 11 on Monday.

 

Bondholder Group Reaches Deal for Up to 25% G.M. Stake

Bondholder Group Reaches Deal for Up to 25% G.M. Stake

G.M. said a key group of bondholders agreed not to oppose the reorganization plan in exchange for a stake of 10% in the new G.M., with warrants to buy an additional 15%.

 

U.S. Expected to Own 70% of Restructured G.M.

The government will likely hold a large share of G.M. after it emerges from bankruptcy, and the union will hold 17.5 percent through its health fund.

 

GM bankruptcy seen as all but inevitable

After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration's bid to reshape a fallen icon of American industry.

 

UAW says GM talks to intensify as jobs issue looms

UAW says GM talks to intensify as jobs issue looms

The United Auto Workers union expects a crucial round of restructuring talks with General Motors Corp "to intensify this coming week" ahead of an end-of-May deadline set by the Obama administration.

 

GM to Build More Cars Overseas

GM to Build More Cars Overseas

When automaker completes restructuring plan, many new jobs will be filled by workers overseas.

 

GM, Chrysler Could Get $5.5 Billion More in Bailout Funds

GM, Chrysler Could Get $5.5 Billion More in Bailout Funds

General Motors Corp. could get as much as $5 billion more in federal loans, while Chrysler LLC could get $500 million as they race against government-imposed deadlines to restructure, according to a government report filed Tuesday.

 

GM Moves to Close 1,700 Dealerships Quickly

Facing Obama administration demands that it move quickly to restructure, General Motors is apparently speeding plans to drastically trim its dealership network. Reuters reports, "General Motors Corp has told U.S. dealers it is accelerating its timetable for closing about 1,700 dealerships as it rushes to meet a June 1 deadline to restructure under U.S. government oversight, people with knowledge of the discussions said." General Motors currently supports more than 6,200 ...

 

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