April 7, 2009

GM, Chrysler can’t tap into retooling loans
Law bars struggling automakers, for now

BY JUSTIN HYDE
FREE PRESS WASHINGTON STAFF
WASHINGTON — General Motors Corp. and Chrysler LLC are blocked — at least for now — from receiving any part of $25 billion in loans for retooling factories that federal officials will begin lending in a [...]

GM bankruptcy would expose $13.5 billion pension liability
 
Total Detroit 3 liability estimated at $41 billion
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Barry B. Burr
Automotive News | April 6, 2009 – 9:44 am EST
 

A General Motors bankruptcy could become a nightmare for the federal government’s Pension Benefit Guaranty Corp.
That’s because [...]

Automotive News | April 6, 2009 – 2:50 pm EST
 
GM projected to be passed by VW as world’s No. 2
 

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FRANKFURT (Reuters) — General Motors will be overtaken by Volkswagen AG this year and fall to the world’s third-largest automaker by production volume, market research company R.L. Polk Germany said today.
[...]

As bankruptcy looms, UAW and creditors face bigger hits
 

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Peter Brown
Automotive News | April 6, 2009 – 12:01 am EST
 

DETROIT — The Obama administration has demanded that General Motors get financially healthy in 60 days — or else.
That demand is likely to force [...]