Chrysler LLC filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat, after being pummeled by sliding auto sales and unable to reach agreement on restructuring its debt.
U.S. automaker Chrysler has filed for bankruptcy and entered an industry-changing deal with Italy's Fiat , in the latest big government intervention in the economy to try to deal with the global crisis.
Chrysler LLC will file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down, U.S. President Barack Obama said on Thursday.
Elon Musk, the Chief Executive of electric automaker Tesla Motors said Tuesday that General Motors should have continued introducing new electric cars after its EV1 models were produced in the 1990s, adding that he hopes that his company’s cars will help spur an electric car revolution.
Chrysler LLC -- battered for the past two years by disappearing global auto sales and the credit crisis -- filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat after talks to restructure its debt broke down.
Chrysler LLC filed for bankruptcy on Thursday after talks to restructure its debt with lenders broke down.
Chrysler LLC is expected to file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down, a U.S. government official said.
Chrysler LLC rushed to clinch a deal on Thursday to stave off collapse ahead of a midnight deadline imposed on the No. 3 U.S. automaker by the Obama administration.
Chrysler LLC rushed to clinch a last-minute deal on Thursday to stave off collapse ahead of a midnight deadline for the third-largest U.S. automaker.
Chrysler rushed to clinch deals with Fiat SpA and a fractious group of lenders on Wednesday in a last-ditch effort to avoid bankruptcy ahead of a government-imposed April 30 restructuring deadline.
Chrysler rushed to clinch deals with Fiat SpA and a fractious group of lenders on Wednesday in a last-ditch effort to avoid bankruptcy a day ahead of a government-imposed restructuring deadline.
General Motors Corp on Monday offered its final plan to reorganize outside bankruptcy by slashing bond debt, cutting over 21,000 more U.S. jobs and emerging as a nationalized automaker under majority control by the U.S. government.
After 83 years of storied history and with a huge following for its famous older models, Pontiac on Monday became the highest-profile victim of the U.S. auto industry crisis with General Motors Corp's announcement the brand would cease to exist in 2010.
General Motors Corp on Monday launched a last-ditch bond exchange offer to avoid bankruptcy and planned to cut 21,000 U.S. hourly jobs in a new restructuring that would see the automaker nationalized under majority control by the U.S. government.
U.S. automaker Chrysler LLC showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labor and debt costs or face bankruptcy.
General Motors Corp. unveiled its restructuring plan on Monday, which may help it avoid filing for bankruptcy protection, focusing on new product developments including a confirmation of current development plans for its highly anticipated electric vehicle, the Chevy Volt.
General Motors Corp. said Monday it would cut its factory workforce by 21,000 by end of 2010 and seek to do a debt for equity swap with government for more than half of its government debt as part of its restructuring plan.
MILAN - Fiat SpA's chief executive might swear that he is not trying to build an empire, but he is certainly looking for scale -- on the cheap.
General Motors Corp on Monday said it would cut debt, close plants, slash jobs and drop the Pontiac brand as part of a sweeping restructuring that would see the automaker emerge under the ownership control of the U.S. government and its major union.
General Motors Corp on Monday announced plans to close plants, cut hourly workers and dealers and to eliminate its Pontiac brand in an effort to meet government demands for a quicker and deeper restructuring.
General Motors Corp on Monday announced plans to close plants, cut hourly workers and dealers and to eliminate its Pontiac brand in an effort to meet government demands for a quicker and deeper restructuring.
Wall Street looked set for a drop of more than 1 percent at the open on Monday as investors worried that a possible global flu outbreak could throw a wrench into the economy's ability to climb out of a recession.
