Outside advisers to the US Treasury are lining up contingency financing options for General Motors and Chrysler as part of a review of restructuring options for the automakers, a Treasury official has said.
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Outside advisers to the US Treasury are lining up contingency financing options for General Motors and Chrysler as part of a review of restructuring options for the automakers, a Treasury official has said.
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Chinese engine maker Weichai Power has again denied a media report last week that said it had talked with General Motors about buying a components plant in France.
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The Obama administration confirmed today that outside advisers are looking into debtor-in-possession financing for General Motors and Chrysler LLC in case one or both need to reorganize in bankruptcy.
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When General Motors and Chrysler LLC knocked on doors in Washington again last week to request another $22 billion in federal aid, there wasn't much mention of marketing in the recovery plans they submitted, as it wasn't required.
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Wide interest has been shown in investing in loss-making General Motors unit Saab, a top executive has said.
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General Motors' German unit Opel will present a business plan to the German government in coming days, responding to calls to present such a plan to obtain state guarantees, as political support for state help varies.
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DETROIT -- General Motors' tab for keeping a pledge to pay Saab's part suppliers through until Feb. 20 will be $127 million, people familiar with GM's purchasing strategy said.
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General Motors' European brands are near collapse, with Germany's Opel in need of more state funding and Sweden rejecting Saab's plea for state aid until its business plan is sound.
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General Motors' German unit Opel will present a business plan to the German government in the coming days, heeding calls to present such a plan in order to obtain state guarantees.
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General Motors axed its High Performance Vehicles Operations last week but hasn't eviscerated all its muscle cars.
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General Motors executives were surprised by the speed at which Saab filed for bankruptcy last week, leaving them with few answers for anxious U.S. Saab dealers.
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A potentially hostile Congress could get to decide whether General Motors and Chrysler LLC receive the additional immediate federal aid they say they need to stay in business.
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If Ron Bloom gets his way, everyone will sacrifice. Last week, President Barack Obama appointed Bloom to help restructure General Motors and Chrysler LLC.
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As General Motors dumps brands and other automakers slash their retail networks, auto dealers are waging a nationwide lobbying blitz for more protection under state franchise laws.
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General Motors executives were surprised by the speed at which Saab filed for bankruptcy last week, leaving them with few answers for anxious U.S. Saab dealers.
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General Motors is trying to keep Saturn dealers in the fold even as it has pronounced the division's likely death.
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General Motors would be doomed if it were unable to get the federal aid it needs to avoid bankruptcy, said one U.S.
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General Motors' German unit Opel will present a business plan to the German government in the coming days, heeding calls to present such a plan in order to obtain state guarantees.
Full story...
General Motors' German unit Opel will present a business plan to the German government in the coming days, heeding calls to present such a plan in order to obtain state guarantees.
Full story...
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