Jun 01 GM Files for Bankruptcy Protection; Judge OKs Chrysler Asset Sale By Admin, PBS News Hour General Motors, a longtime cornerstone of American industrial power, filed for bankruptcy protection Monday morning and embarked on a broad restructuring, paving the way for the struggling automaker to receive another $30 billion in taxpayer aid. Continue reading
May 28 Watch UAW’s Gettelfinger Gives Union Take on Auto Deals As GM moves closer to a reorganization plan, UAW President Ron Gettelfinger gives the union's perspective on the recent plans to boost the struggling auto industry. Continue watching
May 28 Watch GM Bondholders Strike a Deal As Bankruptcy Deadline Looms As a bankruptcy deadline looms for General Motors, major bondholders agreed to a deal that offers them a 25 percent stake in the company if they drop opposition to the company's reorganization plan. A reporter explains the negotiations. Continue watching
May 28 Preview: UAW Chief Ron Gettelfinger on the GM Deal Editor’s note: Paul Solman sat down today with United Auto Workers chief Ron Gettelfinger for a wide-ranging interview about the future of the GM, how the union may fare in any reorganization deal, and how Gettelfinger responds to critics who… Continue reading
May 28 As GM Deadline Nears, Bondholders Back New Stock Deal By Admin, PBS News Hour General Motors said Thursday that a group of bondholders has accepted a sweetened deal that offers them up to a one-quarter stake in the company if they drop opposition to the struggling automaker's plans to reorganize. Continue reading
May 27 Watch News Wrap: GM Moves Closer to Bankruptcy In the day's other news, General Motors moved one step closer to bankruptcy as bondholders rejected the company's offer to trade bond debt for G.M. stock, and Chrysler's lawyers asked a federal bankruptcy court to allow it to sell the… Continue watching
May 18 How Does Cutting Dealers Save the Automakers Money? Question: I keep hearing that GM has to shed brands and cut dealerships, but I don’t understand it. Is the logic simply that GM makes too many distinct carlines to be profitable given its total sales volume? Economies of… Continue reading
May 15 Watch Auto Dealership Closings Reverberate Across Economy General Motors and Chrysler announced the closings of hundreds of dealerships in an effort to bring the companies back from the brink of bankruptcy. Analysts examine the impact of the moves. Continue watching
May 15 GM Plans 18 Percent Reduction in Dealer Network By PBS News Hour A day after Chrysler unveiled plans to close a quarter of its dealerships, General Motors followed suit Friday by telling about a fifth of its dealers their franchises will be terminated by late next year. Continue reading
May 14 Chrysler Looks to Slim Down Dealership Network By PBS News Hour Embattled automaker Chrysler wants to shutter about 25 percent of its 3,200 U.S. dealerships by next month, stating in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other. Continue reading