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Karmann Ghia coupe

Karmann shuts its doors as last convertible rolls off the line

Last year a spate of bankruptcy threats and possible acquisitions or closures hit the coachbuilding industry, but today Karmann, perhaps most famous for the Karmann Ghia conversion, is closing its doors. Bankruptcy is the next step, and it's not clear if the firm will come out the other side. The... read more

June 23, 2009 by 
 
Meet the new GM...not quite the same as the old GM

Ed Whitacre to be named chairman of New GM

A bit over a week into GM's bankruptcy and we're starting to see announcements that mirror those made by Chrysler about a month ago. Today's is the naming of the... read more June 9, 2009 by 


 
U.S. Capitol Hill

Republicans and Democrats blame each other for GM collapse

The collapse of General Motors has seen some of the most divergent views on both politics and the automotive industry appear in recent times, and even though the collapse of... read more June 9, 2009 by 


 
Rick Wagoner Alan Mulally George Bush

Dick Cheney: Bush didn’t want to be the one to ”pull the plug” on GM

Earlier this week General Motors formerly announced that it had filed for chapter 11 bankruptcy but the truth of the matter is that the struggling automaker’s downfall... read more June 4, 2009 by 


 
Meet the new GM...not quite the same as the old GM

GM appoints Detroit turnaround expert Al Koch to oversee bad assets

In times of trouble, companies need a solid leader to help turn their fortunes around. You only need to look at what Fiat has achieved in the past few years with Sergio... read more June 2, 2009 by 


 
GM American flag

Official: GM files for Chapter 11 bankruptcy

General Motors today announced that it has filed for Chapter 11 bankruptcy following an agreement reached with the U.S. Treasury and the governments of Canada and Ontario to... read more June 1, 2009 by 


 
GM Detroit headquarters

U.S. government pledges $30 billion in GM bankruptcy financing

It's been expected for a long time but it finally appears as though General Motors’ bankruptcy is upon us, and with it the federal government is set to bring the... read more June 1, 2009 by 


 
Meet the new GM...not quite the same as the old GM

GM bondholders agree to take 25% of new company, U.S. Treasury gets 72.5% ownership

As General Motors prepares for a bankruptcy announcement on June 1, the U.S. Treasury is helping to pave the way by releasing a new deal that leaves GM's bondholders with 25%... read more May 28, 2009 by 


 
GM Warren Tech Center

Warren encouraging GM to move corporate HQ with tax breaks

Detroit has long been the heart of America's automotive industry, but 2009 has been a major period of upheaval for the city, with further shocks expected to come - including... read more May 28, 2009 by 


 
A UAW worker assembling a Hummer H3T

GM and UAW reach tentative deal

The U.S. Treasury, General Motors and the United Auto Workers have reached a tentative bargain on how they'll deal with changes to the current agreement in the face of the... read more May 21, 2009 by 


 
GM Cadillac dealer

GM to close 42% of Canadian dealer network

The symptoms of America's ailing carmakers don't recognize borders, and no nation is more keenly aware of that fact than Canada. That's doubly true after today's announcement... read more May 20, 2009 by 


 
Dodge Challenger

Report: Chrysler to offer $1,000 certificates to all existing customers

As bankruptcy thrashes Chrysler vehicles' resale value the company is pulling out all the stops to keep sales up until it can emerge and join forces with Fiat. To help get... read more May 15, 2009 by 


 
Jeep Wrangler Rubicon

Chrysler resale values down 6% in a week as uncertainty rules the day

It's simple math: carmaker plus bankruptcy equals uncertainty and lower resale values. But Chrysler owners are feeling the bite of that equation as the value of their... read more May 11, 2009 by 


 
Chrysler Sebring

Dodge Avenger, Chrysler Sebring safe from the axe through 2010

As Chrysler pushes forward during its bankruptcy period and prepares for its new face and alliance with Fiat, many are wondering what will come along for the ride and what... read more May 6, 2009 by 


 
2010 ford taurus 001

Ford's image improves by staying above the fray, says study

It wasn't so long ago that people were deriding Ford for mortgaging the Blue Oval itself, key investors were dumping shares into the open market and the company was forced to... read more May 4, 2009 by 


 
GM American flag

Obama's task force orders GM to convert all of its debt to equity

The U.S. government may soon become a substantial shareholder in General Motors if a new plan to convert all of GM's debt to equity goes forward. On Friday, President Obama's... read more April 20, 2009 by 


 
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