Bankruptcy

Ford to close climate control plant, lay off 257 workers

3:11 pm U.S. ET | Oct. 21, 2014
Ford plans to shed the last line of business in nine-year-old Automotive Component Holdings LLC by December when ACH closes its Sheldon Road climate control plant in suburban Detroit and lays off its last 257 employees....
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THE GM RECALL

GM sued for $10 billion over losses on 27 million recalled cars

1:43 pm U.S. ET | Oct. 15, 2014
General Motors was hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles seeking more than $10 billion in compensation for fallen car prices....
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In GM bankruptcy, an ex-con and hedge funds find common ground

3:00 pm U.S. ET | Oct. 12, 2014
Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he's getting support from an unlikely source: hedge funds....
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Penske testifies Detroit, like GM, will be cleansed by bankruptcy

1:19 pm U.S. ET | Oct. 3, 2014
Detroit can benefit from a trip through bankruptcy, just as GM used court protection to turn itself around, Roger Penske on Friday told the judge weighing whether to approve the city's $7 billion debt-cutting proposal....
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NEVS lays off staff as Saab output remains idled

12:16 pm U.S. ET | Sept. 24, 2014
China's cash-strapped National Electric Vehicle Sweden said it would lay off up to 200 employees at its Saab car plant in Sweden as production is unlikely to resume anytime soon....
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Warren Buffett is bullish on GM, Detroit

3:33 pm U.S. ET | Sept. 18, 2014
Billionaire investor Warren Buffett said today he is bullish on Detroit and General Motors -- and said he's impressed with CEO Mary Barra....
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Saab carmaker NEVS granted creditor protection by court but loses right to use Saab name

Aug. 29, 2014 12:46 CET
National Electric Vehicle Sweden (NEVS), which bought Saab in 2012, won court protection from creditors today. But the automaker suffered a blow when Saab AB, the defense firm, withdrew NEVS' right to use the brand name Saab for its cars....
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Court rejects creditor protection for Saab owner NEVS

Aug. 28, 2014 11:56 CET
A Swedish court rejected an application from China's National Electric Vehicle Sweden, which bought bankrupt Saab in 2012, for protection against creditors while it concludes funding talks....
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Supplier Dayco names John Bohenick CEO

11:23 am U.S. ET | Aug. 20, 2014
Automotive belt and pulley supplier Dayco Products today named John Bohenick as its new CEO. Bohenick will replace James Orchard in the position....
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Saab's owner seeks partner to secure brand's future

Aug. 19, 2014 11:15 CET
Saab's owner, National Electric Vehicle Sweden, says it is in discussions with potential partners as it seeks to restart car production and develop future models....
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SPECIAL REPORT

Obama aides let Delphi avoid taxes with 'inversion' tactic now assailed

12:34 am U.S. ET | Aug. 6, 2014
President Obama says U.S. corporations that adopt foreign addresses to avoid taxes are unpatriotic. But the administration helped one $20 billion American company, Delphi Automotive, do just that....
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Toyota gives $1 million to help shield Detroit museum's art from bankruptcy sale, aid pensioners

2:34 pm U.S. ET | Aug. 6, 2014
Toyota's North American arm pledged $1 million toward the Detroit Institute of Arts' goal to raise $100 million and help prevent the sale of the museum's collections during Detroit's bankruptcy case and assist city pensioners....
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GM dogged by recalls, lingering dealer disputes in Canada

12:34 am U.S. ET | July 29, 2014
A wave of recalls, lingering disputes with dealers after its 2009 bankruptcy, and weak pickup volume are undermining GM's sales in Canada, the company's seventh-biggest market....
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5 YEARS LATER

June, July 2009 timeline: Beginning of recovery

12:01 am U.S. ET | July 28, 2014
A look back at the events of June and July, 2009....
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5 YEARS LATER

'Cash for clunkers opened up the floodgates'

12:01 am U.S. ET | July 27, 2014
The Car Allowance Rebate System, also known as cash for clunkers, was a lifeline at a desperate time for the U.S. auto industry. Nearly 700,000 vehicles were traded in through the nearly $3 billion program, which provided consumers as much as $4,500 each to trade in an old gas guzzler for a more fuel efficient new model....
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THE GM RECALL

GM seeks broader immunity in switch lawsuits

3:49 pm U.S. ET | July 23, 2014
GM, moving to expand its immunity from lawsuits after recalling almost 29 million cars in North America, said it sees no need to try to settle customer claims until a judge decides whether it's legally responsible for faults in its predecessor's cars....
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KRISHNAN ANANTHARAMAN

GM waive liability shield? It can't

3:22 pm U.S. ET | July 18, 2014
Is it conceivable that Sen. Richard Blumenthal, who is both a lawmaker and lawyer, has only a tenuous grasp of the law?...
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THE GM RECALL

GM judge says concealing switch fault would have been fraud

11:56 am U.S. ET | July 2, 2014
General Motors customers who sued the automaker over fallen car prices might have a stronger case if they could prove the company defrauded the court when testifying during its 2009 bankruptcy, a judge said....
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Former supplier CEO wins U.S. House seat in Florida

2:50 pm U.S. ET | June 26, 2014
The former CEO of wheel supplier Hayes Lemmerz is headed to Congress to replace a Florida representative who resigned in January after being busted for possession of cocaine. Republican Curtis Clawson won a special election Tuesday in Florida's 19th District, which includes Naples and Fort Meyers, by garnering 67 percent of the vote....
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THE GM RECALL

Rattner says he saw 'GM nod' and 'GM salute' during rescue

3:26 pm U.S. ET | June 12, 2014
Steven Rattner, the former auto czar who led the government bailouts of General Motors and Chrysler, says he witnessed GM's problematic management culture firsthand and was shocked -- and crash victim advocates are asking why he didn't act....
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5 YEARS LATER

Inside GM's path to survival

12:01 am U.S. ET | June 2, 2014
Five years ago this week, General Motors Corp. -- long a symbol of America's industrial might -- sought bankruptcy protection. Work on what would become the bankruptcy road map began within GM before outgoing President George W. Bush kept the automaker alive with a first round of U.S. rescue loans, contends Jay Alix, founder of AlixPartners, a corporate turnaround specialist with long ties to GM....
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5 YEARS LATER

May 2009 timeline: Slide to GM bankruptcy

12:01 am U.S. ET | June 2, 2014
A look back at the events of May 2009....
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Location of GM ignition suit litigation to be decided by U.S. panel

6:38 am U.S. ET | May 29, 2014
GM wants to return to a New York courtroom to fight at least 90 ignition-switch defect lawsuits while some car owners are driving for the cases to be heard by a California judge seasoned in auto litigation....
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LARRY P. VELLEQUETTE

Why the bankruptcy legacy seems different at Chrysler and GM

3:02 pm U.S. ET | May 22, 2014
There is a fundamental difference today between Chrysler and GM because of what did and did not happen during their gut-wrenching bankruptcy crises five years ago. Chrysler came close enough to death in its bankruptcy to dramatically alter its culture, while GM never stopped believing it was too big to fail....
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Superior awards new CEO Stebbins $2.6M in stock incentives

12:32 pm U.S. ET | May 13, 2014
Donald Stebbins, the former Visteon CEO who is taking the helm of wheel-maker Superior Industries International, is getting a compensation package that includes 132,455 restricted shares of common stock -- currently valued at about $2.6 million -- along with a base salary of $900,000 and other perks, according to company documents filed last week....
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Special Report
How #1 store scores with employees

How #1 store scores with employees

Texas dealer Greg May encourages staffers to provide input and solve problems on their own. Mon., October 20
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