Entries tagged "auto"
Sandra Mayerson, a bankruptcy attorney at Squires Sanders, says that bankruptcy offers the best hope for a reorganization for the carmaker -- whether hedge funds sign onto the creditor's agreement.
It looks like GMAC LLC finagled its way into becoming a bank holding company after all, and got a bit more than a stocking stuffer for the holidays. The U.S. Treasury is buying $5 billion in senior preferred equity in GMAC and offered a new $1 billion loan to General Motors Corp. in an another attempt to stabilize the auto company. The $6 billion is an addition to the $17.4 billion emergency plan to bailout GM and Chrysler LLC. ...
General Motors Corp.'s vice chairman Robert Lutz went to bat for his colleague Rick Wagoner (pictured) after lawmakers and others called for the ouster of the troubled automaker's CEO as part of a government bailout package....
Jamie Gorelick, a partner at Wilmer Cutler Pickering Hale and Dorr LLP, spoke at The Deal's M&A Outlook 2009 conference about President-elect Barack Obama's economic strategy. In this edition of Inside The Deal, The Deal's Kenneth Klee speaks with Gorelick about the auto bailout and the financial regulation environment under an Obama administration. ...
Whether or not the U.S. government should bail out the U.S. auto industry has been a hot-button topic across America recently, and the answer to the question runs the gamut depending on who you speak to. One person that will have an influential say on what course the government takes is President-elect Barack Obama. The 44th president-to-be said Sunday night in an interview with Steve Kroft on CBS' "60 Minutes" that the country is "in an unprecedented crisis not seen since the Great Depression," and, "For the auto industry to completely collapse would be a disaster in this kind...
