The CEO of General Motors, Frederick "Fritz" Henderson, has resigned, the automaker announced Tuesday. He has been replaced on a temporary basis by Ed Whitacre, chairman of the board of the troubled automaker.
Ford Motor Co., the only U.S. automaker to avoid bankruptcy this year, posted a surprise $997 million profit in the third quarter and said it expects 2011 to be "solidly profitable." The report sent Ford's shares up 8.3 percent in…
By Lea Winerman
General Motors Corp. CEO Fritz Henderson announced Friday that the company emerged from bankruptcy and now begins the task of remaking the struggling American carmaker that was once the world's largest and most powerful.
By PBS NewsHour
In other news, markets rose on positive reports from the manufacturing and housing sectors. Also, in auto news Ford reported its best showing in months but Chrysler and GM each posted a greater than 30 percent loss.
Chrysler finalized the sale of its assets to Italian automaker Fiat Wednesday after the Supreme Court cleared the way for the deal. Analysts examine the future for the newly merged company.
In other news, a bankruptcy judge approved the closing of 789 Chrysler dealership franchises, and on Wall Street, financial markets stayed relatively stable.
In a one-sentence order late Monday, the Supreme Court granted a request to delay the sale of bankrupt automaker Chrysler to a group led by Italian carmaker Fiat SpA. Marcia Coyle of the National Law Journal recaps the court's move…
Analysts take a closer look at the deeper, long-term effects of General Motors' bankruptcy filing.
The political stakes are high for the Obama administration in guiding General Motors into bankruptcy -- and allowing the government to take a majority stake in the company. Analysts examine the political and economic implications of the decisions.
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