GM & Chrysler at a glance

[cassiusclay]

GM and Chrysler's bankruptcy cases at a glance
By The Associated Press – 16 hours ago
A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC:
GENERAL MOTORS — DAY 29
WHERE DOES IT STAND?: Monday marked Detroit-based GM's 29th day under court protection.
GM said Monday it's ending its joint venture with Toyota Motor Corp. at a Fremont, Calif., manufacturing plant as it continues to shrink its operations under bankruptcy protection.
GM said it was unable to reach an agreement with Toyota about a new product plan at the facility. The plant, called New United Motor Manufacturing Inc., or Nummi, currently produces the Pontiac Vibe for GM and the Corolla and Tacoma for Toyota.
GM announced it was phasing out the Pontiac brand earlier this year. The facility will cease production of GM vehicles in August, the company said.
Late last week, the automaker said in court filings that it has agreed to take on responsibility for future product liability claims.
In a concession to consumer groups and state officials who had threatened to block the sale because of product liability concerns, the new company will now assume responsibility for future claims involving vehicles made by the old company.
Consumers with pending cases against the automaker or who haven't filed suit yet in connection with a past incident, will still need to seek damages from the old company where there will likely be nothing left to pay their claims.
WHAT'S NEXT?: A hearing on GM's plan to sell its assets to a new government-controlled company and emerge from Chapter 11 is scheduled for Tuesday. GM CEO Fritz Henderson is expected to testify.
CHRYSLER
WHERE DOES IT STAND?: Auburn Hills, Mich.-based Chrysler Group LLC emerged from Chapter 11 earlier this month after a new company was created by the sale of most of the automaker's assets to a group led by Italy's Fiat Group SpA.
WHAT'S NEXT?: Chrysler assets not sold to Fiat, including eight plants, remain under Chapter 11 protection. Hearings to decide what to do with these so-called bad assets and to settle claims by the company's creditors will continue. The next hearing is scheduled for Tuesday.
Copyright © 2009 The Associated Press. All rights reserved.

[Dirty]

This is just a Mess.... amazing that GM cant' come to an agreement with one of the biggest and Most Profitable Private companies in existence today (even with losses during the recession) in Toyota... they should have stuck it out and learned a few things on streamlining, Waste Management, and profitability

[cassiusclay]

i have access to a ton of info on the auto companies, i will post the articles as they are sent to me, if they clutter up the forum let me know and i will start a thread dedicated to each.

[Dirty]

all will be fine man