March 16, 2009
Obama auto task force: Bankruptcy not goal
By Justin Hyde
Free Press Washington Staff
WASHINGTON – The lead adviser to President Barack Obama’s automotive task force said today that bankruptcy was “not our goal” for the automakers, and indicated the panel wanted to aid auto suppliers facing imminent collapse.
In an interview with the Free Press, [...]
March 17, 2009
Auto news briefs: GM to idle Orion plant
FREE PRESS NEWS SERVICES
GM to idle Orion plant
General Motors Corp. will temporarily close a midsize-car factory near Pontiac for three weeks because of lower demand for its products, a company spokesman said Monday.
GM’s Orion Township plant, which makes the Pontiac G6 and Chevrolet Malibu, will [...]
Tuesday, March 17, 2009
Car team warns fed aid has limit
Rattner tells The News that Fiat, Chrysler decision is up in air.
David Shepardson and Gordon Trowbridge / Detroit News Washington Bureau
WASHINGTON — A top adviser to the Obama administration’s auto task force warned that the government won’t provide indefinite financial support to the struggling auto industry, [...]
GM bondholders present plan for out-of-court restructuring
Details of the plan not disclosed
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Automotive News | March 16, 2009 – 9:00 pm EST
DETROIT (Reuters) — Advisers to General Motors’ bondholders said today they have presented a framework plan to President Barack Obama’s autos task force and the company that provides GM’s best chance for an out-of-court restructuring.
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