Obama Auto Task Force Lead Advisor Claims "Bankruptcy Is Not Our Goal"

In an interview today, Steven Rattner, lead advisor for President Obama's Auto Task Force, gave the first public statement about the group's mission when he said "bankruptcy is not our goal" for GM and Chrysler. » 3/16/09 1:30pm 3/16/09 1:30pm

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

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

Deutsche Bank Views GM Stock As Worthless, Sets $0 Price Target

Looks like Deutsche Bank's finally jumping on the whole " GM doesn't have money to pay the rent past December » 11/10/08 10:20am 11/10/08 10:20am" bandwagon, issuing a price target of $0 on GM stock in light of a likely without . As a result, GM shares are now down over 27% in morning trading. We're glad to see analysts at huge global financial…

GM Declares Bankruptcy Imminent After $4.2 Billion Third Quarter Loss

GM today announced a third-quarter loss of $4.2 billion (adjusted, $2.5 billion reported) on revenues of $37 billion while spending $6.9 billion of their lifeblood-like cash on hand. Although initially we thought the big news here was a cash spend of $2.3 billion per month, compared to around $1.1 billion a month in… » 11/07/08 11:40am 11/07/08 11:40am

GM Share Prices Go Retro In Search Of Better Times, Wagoner Hits…

Ford's trading at a price lower than a gallon of gas today » 10/09/08 3:40pm 10/09/08 3:40pm, but how's their publicly-traded Detroit-based buddy doing on Wall Street this week? The reports in the past five days of stock trading, General Motors has lost more than a quarter of its value, closing at $6.91 Wednesday (and dropping below $5 a share…