USA / Global
Corporate / Financial
Skip Barber Racing School Files For Chapter 11 Bankruptcy
The renowned racing school allegedly has between $10 million and $50 million in liabilities.
May 23, 2017
Saab won't be at Frankfurt - report
Saab says it is concentrating on getting production re-started at its Trollhattan plant in Sweden.
Aug 17, 2011
Saab in danger of bankruptcy - report
It sounds like déjà vu all over again as a new report is indicating that Saab is in danger of going bankrupt.
Mar 10, 2011
Manufacturing / Production
Pontiac is dead after 84 years
GM's agreement with Pontiac dealers ended on October 31st - the Pontiac brand was killed last year during GM's bankruptcy.
Nov 01, 2010
USF1 auction raises $1.4m for creditors
The auction of the abortive formula one team USF1's assets has raised $1.4 million.
Jun 17, 2010
GM Slashing Prices on Pontiacs and Saturns
A steep price cut on Pontiac and Saturn vehicles is being offered to help GM clear out stock. Would you buy one? Details inside.
Dec 30, 2009
GM says goodbye to 54 sponsorship contracts
In a bid to cut a tremendous amount of costs, GM has won approval to cut over 50 corporate sponsorship contracts. What iconic displays will disappear?
Jul 14, 2009
GM to File for Bankruptcy on Monday, U.S. will still Invest Additional $30 billion
General Motors is reported to be finally filing for Chapter 11 this coming Monday. But not before the US government lends one of America's previously most dominant companies of the past 100 years an extra US$30 billion.
May 28, 2009
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GM Confirms Pontiac Phase Out by 2010 - 21,000 jobs cut
GM will reduce its dealer network by 42 percent to just 3,600 from the over 6,000 dealers it had in 2008. The automaker will be cutting its hourly work force down to 40,000 employees - a shadow of the days when GM had hundreds of thousands of worker.
Apr 27, 2009
Saab files for reorganisation under Swedish law
GM will be spinning off Saab as an independent business as of January 1st 2010. Reorganization will provide the automaker with legal protection from creditors as it attempts a restructuring. Saab is still seeking investors or a new owner.
Feb 20, 2009
Saab 10 days from bankruptcy
GM says Saab is just ten days away from bankruptcy, and they want half a billion dollars from the Swedish government to keep it running. The Swedish government says, "no."
Feb 19, 2009
General Motors unveils restructuring plan
GM says it will focus on four core brands, Chevy, Cadillac, GMC and Buick, and will sell Saab and Hummer. The company says it will need 12 billion US dollars to see it through 2009 and 6 billion more if industry sales fall below 11 million.
Dec 02, 2008
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