General Motors will discontinue the Pontiac brand in a restructuring effort by the struggling automaker. More…
Posts tagged as “Bankruptcy”
The New York Times is reporting that the Treasury Department is preparing Chapter 11 bankruptcy filings for Chrysler that could come as early as next week. Chrysler’s lenders hold nearly $7 billion in debt and the government earlier offered 22 cents on the dollar for a 5% share in a reorganized corporation. More…
President Barack Obama is pushing for greater legal protection for consumers as millions face mounting credit card debt. More…
General Motors Corporation may be planning to close most of it’s U.S factories for up to nine weeks this summer due to slumping sales and huge inventorries of unsold vehicles now on dealer lots. Speculation that the former auto giant could declare bankruptcy may be partially to blame for lagging sales, analysts believe. More…
Chase Bank has filed suit to recover on a $7 million load given to Andrew "Flip" Filipowski, the 1990’s Chicago tech wiz who became a billionaire after selling Platinum Technologies.