It’s hard to believe nearly a decade has passed since GM and Chrysler filed for bankruptcy. Continue Reading...
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With a heavy heart the staff of AutoGuide.com say goodbye to 2012, along with its triumphs and tragedies. We await the New Year with open arms, and welcome its promise of a better world. According to the Chinese zodiac, 2012 was a year of the dragon, and it proved to be the stuff of legend,… Continue Reading...
Despite filing for Chapter 11 last month, American Suzuki Motor Corporation (ASMC) is buying an additional 2,500 vehicles from Japan to sell in the U.S. market. Continue Reading...
Despite a positive 5 percent sales increase for the month of October, American Suzuki is preparing to close up shop in North America, announcing it will file for Chapter 11 bankruptcy protection. Continue Reading...
For many car enthusiasts, reports of Bristol Motor Cars filing for Chapter 11 earliar this year was very sad news indeed. Now its time for fans of this British marque to rejoice as the company has just been saved and brought back to life. The new owners are Kamkorp Autokraft, a Swiss company that is… Continue Reading...
The New Jersery Motorsport Park, a favorite among car enthusiasts on the East Coast, is going bankrupt. Someone please save it before it gets turned into another mall. NJMP is one of the newest tracks in America, having opened its doors back in 2008. It currently has two road courses and a professional karting track…. Continue Reading...
Late Sunday a judge approved the sale of GM’s assets to a group comprised of the U.S. government, the UAW and the Canadian and Ontario governments under the name NGMCO, Inc. The decision will see GM exit bankruptcy court quickly with the ‘New GM’ assets going to NGMCO, while the ‘Old GM’ assets will be… Continue Reading...
While President Obama and General Motors CEO Fritz Henderson are both expected to hold press conferences today, officially GM has already filed for Chapter 11 Bankruptcy Protection. Once the world’s largest automaker and a symbol of the success of free market economics, GM is now a symbol of failure. In the 1950s it employed over… Continue Reading...
GM Vice Chair Bob Lutz Kisses a Saturn Astra. Recently he kissed-goodbye to all his stock in the company. In a move that should probably be illegal (but isn’t) six General Motors executives recently sold off all their shares in the company. That’s right, those same guys who helped drive GM into bankruptcy traded in… Continue Reading...
President Obama is expected to announce tomorrow that Chrysler will in fact file for bankruptcy; according to a report by Bloomberg. The Wall Street Journal, however, says that Obama currently has two speeches drafted for tomorrow’s press conference: one if the struggling automaker files for Chapter 11, and one if it doesn’t. The Chapter 11… Continue Reading...