Everyone's Using The "B-Word" Except The Not-So-Big Three

After scrutinizing not-so-Big Three CEO's testimony before the Senate yesterday to see who would and would not utter the dreaded "b-word" we noticed a pattern. Everyone was willing to publicly acknowledge the possibility except the chairmen of Ford, Chrysler and GM. If you don't say it, it can't happen right? hat tip… » 12/05/08 2:00pm 12/05/08 2:00pm

Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan

The CEOs of the not-so-Big Three made it to DC for committee hearings beginning today at 10:00 AM. According to Bloomberg's sources, GM and Chrysler execs are considering a pre-arranged bankruptcy (which we've already said is a good thing) as a last-resort of getting a multibillion-dollar government loan. » 12/04/08 8:40am 12/04/08 8:40am

Grading The Not-So-Big Three's "Bailout" Plans

We spent the night reading the the not-so-Big Three's business plans presented yesterday to Congress and after we graded them below, we've one huge question. Given the Carpocalypse, what's with the overwhelmingly optimistic sales projections for the next three years? » 12/03/08 10:00am 12/03/08 10:00am

12.5 / 11.0 / 10.5 million units 14.5 / 12.5…

CNBC's Jim Cramer: "What's Good For GM Is Still Good For America"

The red rubber bull-biting bald man by the name of Jim Cramer had a mouthful to say about the Motor City today — making clear his belief that if Motown gets showed D.C.'s checkbook, then we've seen the lows of this financial downturn. I tend to agree. Right now, according to Cramer, the issue isn't anymore whether you… » 11/14/08 6:45pm 11/14/08 6:45pm

GM Will Go Bankrupt: Why That May Actually Be Good For The General

I'm not the first person to say it. After yesterday's 31% drop in the price per share » 10/10/08 8:30am 10/10/08 8:30am, news outlets talking to the right people this morning are already saying it, albeit fecklessly, like thus: "Will GM declare bankruptcy?" All I'm doing is removing the question mark. The pundits saying "" are completely ignorant of…

Bill Heard, Nations Top-Selling Chain Of Chevy Dealerships, Goes Out Of…

Bill Heard Enterprises is closing its remaining 13 car dealerships. The country’s top selling Chevy dealer group, Heard blames "adverse economic conditions, high gasoline prices and our traditional product mix.” However, Heard has come under significant legal scrutiny in the past few years, leading us to believe that… » 9/25/08 1:00pm 9/25/08 1:00pm

Chrysler Plays Chicken with Parts Supplier, Parts Supplier Loses

Ah, the weird, weird world of supply chains, Motown business practices and secretive private equity maneuverings. Yesterday, Plastech Engineered Products Inc., Chrysler's main supplier of parts, filed for bankruptcy. Chrysler, owned by private-equity firm Cerberus Capital Management, sued to obtain the toolings… » 2/05/08 1:15pm 2/05/08 1:15pm

Unique Performance Files for Bankruptcy

We sort of wish we hadn't called this, but AutoWeek is reporting that Unique Performance filed for Chapter 7 bankruptcy protection on November 12th, less than a week after being raided by the fuzz for title-washing and other crimes. This means the company has no plans to rebuild itself and, worse, owes between $1 and… » 11/29/07 3:15pm 11/29/07 3:15pm

Breaking! Delphi Gets $3.4 Billion As A Little Something To Keep It…

Well, it looks as though the saga of whether auto parts supplier Delphi will drag the General underwater into the inky abyss is getting a bit of a reprieve today. That reprieve is coming to the tune of $3.4 billion in stock buybacks of the broke n' busted auto supplier from Appaloosa Management LP, Cerberus Capital… » 12/18/06 9:25am 12/18/06 9:25am

Breaking! Collins & Aikman Submits Chapter 11 Bankruptcy Reorganization…


The once-beleaguered auto supplier and current stunner of automotive supplier industry critics, Collins & Aikman, released a gameplan for bankruptcy reorganization that should allow them a way out of its current Chapter 11 status. Although confirmation of the plan still is subject to a bunch of conditions — like… » 8/31/06 9:48am 8/31/06 9:48am

Breaking! Delphi Drops $2.6 Billion During The First Half Of 2006


Embattled auto supplier Delphi's released the first half numbers and — who would have guessed it — they're awash in red ink. Yup, they're drowning in it — losing $2.6 billion during the first half of the year. But just like Delphi's baby-daddy, General Motors, the majority of those losses are associated with its… » 8/15/06 11:59am 8/15/06 11:59am