Word: carli
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...pictures of the world's cheapest car...
...Politics of Haircuts GM followed Chrysler toward bankruptcy like the next car on a roller coaster. The path was clear: if Chapter 11 was necessary to restructure the smaller, privately owned company, it would surely be needed to resolve the troubles of the publicly held behemoth. But simply seeing where things were headed didn't change the fact that it would be a wild ride...
...success, got failure instead, so too bad. The strongest claims belong to secured lenders, which are first in line for any proceeds if the company is liquidated. In between lie the unsecured claims. For a carmaker, this creditor class includes suppliers who haven't been paid, car owners whose repairs ought to be covered by warranty, dealers seeking reimbursement for manufacturers' rebates - and the UAW seeking a VEBA payment...
...history of the electric car...
...Whatever deal eventually emerges, experts warn that Opel's future is anything but rosy in a car industry beset by a massive erosion of demand. The Financial Times reported that the offer document GM sent out to bidders last month predicted a loss before tax and interest payments of more than $3 billion at its European businesses this year. (See pictures...