GM Exectives Sell Off Stock As Sign That Bankruptcy Certain

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 all their stocks when a trading window opened.

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General Motors Posts $6 Billion Q1 Loss

General Motors has once again posted a massive quarterly loss, coming up short to the tune of $6 billion for Q1 of ’09. That is roughly the equivalent of the value of 473,000 Chevy Aveos.

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Chrysler Bankruptcy Filings Shed Light on Which Fiat Models Headed for U.S.

There has been plenty of speculation as to which Fiat vehicles will make it on to North American roads as a result of the merger with Chrysler, but thanks to bankruptcy filings, the mystery has been solved.

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Chrysler Bankruptcy Plan All But Approved

Our team over at GMInsideNews is reporting that the judge overseeing the Chrysler bankruptcy proceedings has thrown out the arguments made by the hold-out bondholders. By removing the only objection to the process, the bankruptcy proceedings can now be fast-tracked and the Fiat merger can go ahead.

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Before Bankruptcy Chrysler Tried to Sell to Chinese, Partner With Everyone

Before Chrysler filed for Chapter 11 late last week the automaker explored every option, including selling the company to the Chinese and forging partnerships with any other manufacturer that expressed even a remote amount of interest.

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Chrysler to Idle Plants During Bankruptcy

Starting Monday, Chrysler will idle most of its plants as the company restructures under a Chapter 11 bankruptcy filing. This will include 8 U.S. assembly plants, as well as facilities in Canada and Mexico. Other pre-assembly facilities will also face temporary closure including five North American engine plants, six stamping plants and seven transmission plants.

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Chrysler Officially Bankrupt: Merger With Fiat A Done Deal

At a mid-day press conference President Barak Obama made the official announcement that Chrysler will in fact file for Chapter 11 bankruptcy protection. Included in the announcement was the news that Chrysler has also reached an agreement with Fiat.

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Chrysler/UAW Agreement Gives Union 55 Percent Share of Automaker

Less than a day after the UAW, Chrysler and Fiat agreed upon the terms of a contract that would keep the struggling U.S. automaker afloat, details of the agreement have surfaced in which the union will take a controlling share in Chrysler.

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Canadian Government Cuts Chrysler Emergency $250 Million Check To Make Payroll

While President Obama outlined his plan yesterday for General Motors and Chrysler, the Canadian government was forced into some more immediate action.

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Chrysler Solidifies Deal With Fiat…That Was Quick

*** UPDATE *** Moments after Chrysler released an announcement that a partnership with Fiat was a done-deal, the American auto manufacturer released another statement with slightly revised wording stating that it had just a “framework” of a deal in place. *** UPDATE ***

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Obama Gives GM/Chrysler Bankruptcy Deadlines

Just ahead of the Obama Administration’s press conference today, some of the most important details are already out.

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Obama Will Set Bankruptcy Deadline for GM and Chrysler on Monday

According to the reliable folks over at GMInsideNews, on Monday the Obama Administration will announce a bankruptcy deadline for both General Motors and Chrysler. 

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