bankruptcy

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 sell off its stake in Mazda. But now a study is saying things have turned around, with Ford's image improving in relation to...

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 task force on the industry ordered GM to prepare a plan to convert all of its debt - about $48 billion in total - to equity...

GM's decline over the course of this year wasn't enough to convince bondholders and the UAW to grant any concessions, but recent reports that the carmaker was in precautionary preparations for filing a Chapter 11 may have galvanized action on the part of the bondholders. Allowing GM to go to...

General Motors is reportedly preparing for the worst, with work under way to get the company ready for a possible bankruptcy. Earlier on this month, it was mentioned that a bankruptcy plan to split GM and retain only the most profitable aspects of its operations while ditching the dead weight was...

Hidden away in General Motors' plans for the next 60 days is a bankruptcy strategy that could see its most successful brands peel off to form a second company, leaving the other brands to languish in bankruptcy for a more extended period. The news comes from an anonymous source within GM via...

When the news of Saab being splintered from General Motors' holdings, many lamented the demise of the Swedish carmaker, assuming it would be unable to stand alone. But a new parts sharing agreement between Saab and General Motors offers some hope that the brand born from jets might yet live to fly...

General Motors and Chrysler just can’t seem to get a break. Not only are they dealing with one of the worst market slumps to hit the auto industry in decades, fears of bankruptcy are turning away potential customers in droves and now those same fears are also sending residual values of their...

If asked whether General Motors or Chrysler were in a better financial position, many of us would conclude that GM looks better. However, Chrysler's chief financial officer Ron Kolka has come out boasting that Chrysler, "on a pure-business basis," is more viable. The reasoning behind the claims is...

The weak economy knows no borders, rampaging across the globe taking its toll in lost jobs and bankruptcies. The car industry in particular is no stranger to this strife, and some might say Great Britain's carmakers most of all, considering their rocky history. In late January UK Business Secretary...

Chrysler’s request for an additional $2 billion in government funded loans in its latest viability proposal looks trivial compared to the $16.6 billion requested by General Motors today in front of the U.S. Treasury. Without this funding GM says it could run out of money as early as next...

Despite the attractive new C200 crossover concept debuted at last year's Paris Motor Show, the successful Rexton production SUV and the new-for-2008 Chairman W luxury sedan, South Korea's SsangYong has revealed that it is entering court receivership to avoid being forced into bankruptcy. The global...

This year has been a hard one for a lot of people, companies and industries. It has been an especially tough one for Pininfarina, losing its CEO, Andrea Pininfarina, to a traffic accident in August. Today news is breaking that the company has decided to end its stint as Italy's last contract...

Bankruptcy for one or more major carmakers as a solution to the current automotive downturn has been widely reviled as the worst possible alternative for the carmakers themselves and the industry, and economy, in general. But now the White House has revealed that a structured bankruptcy for General...

If you listen to the CEOs and PR spin-doctors, bankruptcy has never been an option for America's carmakers, despite behind-the-scenes talk of 'Plan B' scenarios. It turns out that such aversion to bankruptcy isn't just head-in-the-sand reactionary behavior. If General Motors and Chrysler were to...

Teetering on the brink of the precipice is a fairly accurate description of General Motors' future, according to Deutsche Bank, which revised its valuation target of GM shares to $0 today. Even if GM avoids bankruptcy, says the bank, its future will be essentially indistinguishable from a...

Just a few weeks after Mahindra & Mahindra expressed their interest in purchasing the legendary coachbuilder and design house Bertone, China's FAW is throwing its hat in the ring. Both companies see the purchase as their ticket into European markets. A failed deal with Fiat for production of...

Another legendary marque could be sold off to an Indian firm with news coming out today claiming Mahindra & Mahindra (M&M) is one of a number of firms interested in purchasing Italy’s Bertone. The famed coachbuilder and design house has been placed under administration and officials...

Bertone has been in financial trouble ever since a deal between it and Fiat to build several new Lancia models went sour back in April last year. The Italian coachbuilder has yet to secure any major projects since then and has been relying on government handouts to pay its staff. Hope came when...

Bertone has been in financial doldrums ever since a deal between it and Fiat to build several new Lancia models went sour back in April. The Italian coachbuilder is yet to secure any major projects since then and is relying on government handouts to pay its staff but this is expected to dry up...

Two major creditors for Dutch automaker Spyker have requested that the company and its Formula One racing team be declared bankrupt, and are currently seeking legal action to retrieve money they claim they are owed. The creditors include a Zürich insurance company and a private individual, who...