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

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