Cars
The once great city of Detroit, the heart of American manufacturing and automobiles, just can’t get a break. At the same time the big three - General Motors, Chrysler and Ford, begin to view the future more optimistically following the bankruptcy of the first two, Michigan's Governor Rick Snyder announced today that he approved a request from Detroit Emergency Manager Kevyn Orr to file for Chapter 9 bankruptcy protection.
- Saab Owner Nevs Says It Has Found New Asian Shareholder
NEVS, the company that bought the bankruptcy estate from Saab Automobile in 2012, before applying for bankruptcy protection itself in Aug. 2014, is requesting a three-month extension to complete talks with a potential new owner. Read more »...
- Too Little, Too Late: Suzuki To Import 2,500 Cars From Japan To Meet Increased Demand In The U.s.
In November, Suzuki's automotive division in announced that it would be shutting down its operations in the United States. On Thursday, December 20, American Suzuki Motor Corp successfully filed for Chapter 11 bankruptcy protection, in Santa Ana,...
- Gm To Close Or Idle 14 Plants And 3 Part Centers
Just hours after filing for bankruptcy Monday morning, General Motors announced that it will close or idle 14 plants and three Service and Parts Operations in the United States. Michigan is hit the hardest as it will see five plants being closed while...
- Chrysler Llc To Shut Down Most Plants From May 4
In both statements released to the press and the firm's employees, Chrysler LLC's outgoing CEO Bob Nardelli announced that while in bankruptcy, most manufacturing plants of the automaker will be temporarily idled. The lockdown will commence on...
- Gm Shares Fall 16% On Reports For Bankruptcy
As if General Motors isn't in enough trouble already, the company's shares took a steep fall today after several reports including one from the New York Times late on Sunday, claimed that the Obama administration wants the automaker to begin bankruptcy...
Cars
Detroit City Goes Bust, Files for Bankruptcy
The once great city of Detroit, the heart of American manufacturing and automobiles, just can’t get a break. At the same time the big three - General Motors, Chrysler and Ford, begin to view the future more optimistically following the bankruptcy of the first two, Michigan's Governor Rick Snyder announced today that he approved a request from Detroit Emergency Manager Kevyn Orr to file for Chapter 9 bankruptcy protection.
"Detroit simply cannot raise enough revenue to meet its current obligations, and that is a situation that is only projected to get worse absent a bankruptcy filing," Snyder explained.
Read more »- Saab Owner Nevs Says It Has Found New Asian Shareholder
NEVS, the company that bought the bankruptcy estate from Saab Automobile in 2012, before applying for bankruptcy protection itself in Aug. 2014, is requesting a three-month extension to complete talks with a potential new owner. Read more »...
- Too Little, Too Late: Suzuki To Import 2,500 Cars From Japan To Meet Increased Demand In The U.s.
In November, Suzuki's automotive division in announced that it would be shutting down its operations in the United States. On Thursday, December 20, American Suzuki Motor Corp successfully filed for Chapter 11 bankruptcy protection, in Santa Ana,...
- Gm To Close Or Idle 14 Plants And 3 Part Centers
Just hours after filing for bankruptcy Monday morning, General Motors announced that it will close or idle 14 plants and three Service and Parts Operations in the United States. Michigan is hit the hardest as it will see five plants being closed while...
- Chrysler Llc To Shut Down Most Plants From May 4
In both statements released to the press and the firm's employees, Chrysler LLC's outgoing CEO Bob Nardelli announced that while in bankruptcy, most manufacturing plants of the automaker will be temporarily idled. The lockdown will commence on...
- Gm Shares Fall 16% On Reports For Bankruptcy
As if General Motors isn't in enough trouble already, the company's shares took a steep fall today after several reports including one from the New York Times late on Sunday, claimed that the Obama administration wants the automaker to begin bankruptcy...