Category Archives: Bankruptcy

AIG: Doomed to fail?

By doris | Published: April 29, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — Once a titan in the insurance world, AIG is a shadow of its former self, and experts say the company is likely doomed for failure. That’s partly because AIG (AIG, Fortune 500) is slowly getting rid of its strong, moneymaking businesses as it attempts to pay back [...]

Also posted in Banking, Business, Economy, Failing, Financial, Government, Insurance, Money, Pay Back, Security, Wrongdoing | Leave a comment

More plant closings, job cuts due at GM

By doris | Published: April 18, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — General Motors will announce more job cuts and plant closing plans in the coming weeks, CEO Fritz Henderson said Friday. The embattled automaker, which has until June 1 to reach agreements with creditors and unions in order to avoid a government-forced bankruptcy, originally told regulators in February [...]

Also posted in Business, Failing, GMC, Unemployment | Leave a comment

GM near bankruptcy? Buy auto stocks?!

By doris | Published: April 14, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — General Motors’ stock price has been stuck in reverse as investors seem to be betting that bankruptcy is inevitable. Through Friday, shares of GM (GM, Fortune 500) were down 36% this year. The stock fell another 16% Monday afternoon after new reports that the government is pushing [...]

Also posted in Auto, Corporate, Economy, Failing, Financial, GMC, Investors, Stocks | Leave a comment

The American mood: Is the angst bottoming out?

By doris | Published: April 12, 2009

Full Story At news.yahoo.com CLIFTON, N.J. – Friday night in northern New Jersey, circa April 2009, offers clues to prove any theory about the American economic meltdown, depending on what you want to believe. Just like so many places these days. Craving optimism? Watch the tour bus emptying into the La Quinta lobby off Route [...]

Also posted in America, Auto, Banking, Business, Closing, Deals, Economy, Failing, Financial, Market | Leave a comment

GM CEO: Bankruptcy Looks “More Probable”

By doris | Published: April 1, 2009

Full Story At  CBS News CBS/AP) General Motors Corp.’s new chief executive said Tuesday that more of the automaker’s plants could close and bankruptcy is “more probable” as GM works to meet new, tougher requirements for government aid. In his first news conference as CEO, Fritz Henderson said he expects the company would “need to [...]

Also posted in Auto, Business, Financial, Government | Leave a comment