Auto News 5

General Motors and the U.S. government finalized plans Sunday for the company to reorganize, setting the stage for America's largest-ever industrial bankruptcy and heralding a new and uncertain era for the No. 1 U.S. automaker. Full story...

The Obama Administration took General Motors into Chapter 11 bankruptcy today and moved quickly get the carmaker out with $30.1 billion in bankruptcy financing, the White House said in a statement. Full story...

General Motors on Monday will name Al Koch as chief restructuring officer, according to a source familiar with the effort. Full story...

The Obama Administration expects to take General Motors into Chapter 11 bankruptcy today and quickly get the carmaker out with $30.1 billion in bankruptcy financing, the White House said in a statement. Full story...

Swedish carmaker Saab is in a difficult position after being left out of the deal by General Motors to sell its German unit Opel, Prime Minister Fredrik Reinfeldt was quoted as saying on Saturday. Full story...

General Motors of Canada Limited announced today that its comprehensive restructuring plan has been approved by the Canadian and Ontario Governments. The agreements reached with key stakeholders will enable the company to complete its restructuring efforts without the need for court-supervision. The filing by General Motors in the United States is not expected to affect GM Canada's operations. Full story...

Aurora, ON - Magna International Inc. announced today that, following extensive negotiations over the past several days with various stakeholders, including representatives of German federal and state governments, GM Europe, General Motors Corporation and the US Treasury, it has reached a conceptual framework that should allow Opel to avoid a possible insolvency filing and pursue the restructuring required for its immediate and long-term viability. Full story...

It's official since 8 AM: General Motors is going bankrupt. U.S. President Barack Obama will hold a press conference at noon, while GM CEO Fritz Henderson will follow 15 minutes later with the company's statement. Full story...

General Motors on Monday will name Al Koch as chief restructuring officer, according to a source familiar with the effort. Full story...

The Obama Administration expects to take General Motors into Chapter 11 bankruptcy Monday and quickly get the carmaker out with $30.1 billion in bankruptcy financing, the White House said in a statement. Full story...

Suppliers with outstanding receivables not covered by last Thursday's $2 billion early payment by General Motors are likely to be paid even if the automaker files for bankruptcy, which is expected tomorrow. Full story...

General Motors has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history. Full story...

General Motors has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history. Full story...

BERLIN (Reuters) -- The budget and finance committees of two German states with large Opel plants on Sunday endorsed a deal with Magna International, General Motors and the U.S. government to save Opel from the bankruptcy of its parent. Full story...

Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors. Full story...

Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors. Full story...

Union leaders have urged the British government to do more to safeguard jobs at Vauxhall after Germany announced a deal to save the European arm of General Motors. Full story...

A majority of General Motors bondholders have agreed to a debt-for-equity exchange, smoothing the way to a bankruptcy filing expected on Monday, a source familiar with the voting said today. Full story...

General Motors finished a key piece of business on Saturday before a bankruptcy filing planned for Monday as the deadline expired for bondholders to accept an exchange offer brokered by the Obama administration. Full story...

General Motors and the U.S. government finalized plans today for the company to reorganize, setting the stage for America's largest-ever industrial bankruptcy and heralding a new and uncertain era for the No. 1 U.S. automaker. Full story...