Bankruptcy

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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Detroit 3 consider aid to art museum in city's bankruptcy

1:25 pm U.S. ET | May 13, 2014
Detroit's three automakers are mulling a request by the city's art museum to help it raise money for a key component of Detroit's plan to restructure its debt and exit bankruptcy, representatives of the companies said today....
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Former Fisker creditors seek OK to file liquidation plan

3:49 pm U.S. ET | May 2, 2014
Creditors of the former Fisker Automotive Holdings are seeking permission to file their own liquidation plan for the defunct maker of luxury plug-in hybrids cars, saying the company is insisting on terms that would harm unsecured creditors and put plan-approval at risk....
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THE GM RECALL

U.S. bankruptcy judge urges settlement on GM ignition defects

8:08 am U.S. ET | May 2, 2014
A federal bankruptcy judge today urged settlement talks in a dispute between General Motors and plaintiffs seeking compensation for the lost value of their cars stemming from a massive recall over a faulty ignition switch....
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HIGH MARKS

Chrysler in 2014 closely resembles what Marchionne said it would 5 years ago

12:01 am U.S. ET | April 28, 2014
In late 2009, Fiat-Chrysler CEO Sergio Marchionne and his team laid out an audacious five-year plan to rebuild Chrysler Group....
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GM asks U.S. judge to bar lawsuits for pre-bankruptcy recall claims

5:36 pm U.S. ET | April 15, 2014
General Motors said in a court filing that it will ask a federal bankruptcy judge to bar lawsuits related to its recall for faulty ignition switches, citing the terms of its 2009 bankruptcy....
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Ruling on terminated dealers keeps Chrysler case in the courts

12:01 am U.S. ET | April 14, 2014
About 150 dealerships that lost Chrysler franchises during the company's 2009 bankruptcy won a round in federal court last week....
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Budd Co. files for bankruptcy protection to modify retiree benefits

11:04 am U.S. ET | April 1, 2014
Budd Co., a former maker of auto parts and stainless steel passenger rail cars, filed for bankruptcy protection to modify benefits that it can't fully pay....
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U.S. eyes bankruptcy link in GM ignition defect probe, report says

3:48 pm U.S. ET | March 22, 2014
Federal authorities are investigating whether General Motors hid an ignition switch defect when it filed for bankruptcy in 2009, The New York Times reported on Saturday....
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NEWS ANALYSIS

For GM, a need to show sense of urgency

12:01 am U.S. ET | March 8, 2014
As General Motors' head of product development, Mary Barra gave employees a clear order: "No more crappy cars." Two months into her CEO tenure, the crappy cars of old GM are exacting revenge on the born-again automaker....
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Bankruptcy terms limit GM liability in crash lawsuits

12:01 am U.S. ET | March 8, 2014
In apologizing for its response to a faulty ignition switch that triggered a recall of about 1.6 million cars, General Motors has vowed that it will do business differently than the company that filed for bankruptcy in 2009....
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Chrysler turned away by bankruptcy court in tax-refund quest

12:34 am U.S. ET | Feb. 24, 2014
Chrysler Group couldn't get a New York bankruptcy court's help in its bid to recover an alleged $50 million overpayment of state unemployment insurance premiums....
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LABOR'S UNREST

Tracing the UAW's struggle with foreign automakers

12:01 am U.S. ET | Feb. 24, 2014
Automotive News spoke to labor analyst Kristen Dziczek about the root of the issues that led up to the recent vote at the Volkswagen plant in Chattanooga....
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5 YEARS LATER

GM, Chrysler bounce back from the brink

12:01 am U.S. ET | Feb. 24, 2014
General Motors' comeback from near-collapse has been faster and stronger than most experts believed it could be....
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