Archive forMarch, 2009
Judge delays decision on Delphi steering sale (AP)
A bankruptcy court judge on Tuesday delayed approval of a deal that would allow auto parts supplier Delphi Corp. to sell its steering business to General Motors Corp. in order to give Treasury Department officials more time for review.
How Chrysler became badge of honour for Cerberus chief (at FT.com)
Cerberus has its roots in the sometimes thuggish, hardball world of distressed debt. But on its way out of that world, the alternative investment firm has made what appear to be some seriously misjudged calls.
GM begins white-collar layoffs with 160 pink slips (AP)
Dreaded white-collar job cuts at General Motors Corp. started Tuesday as the wounded automaker began to deliver on promises to the government to shrink its work force so it can be profitable at lower sales levels.
US judge delays decision on Delphi steering sale (AP)
A bankruptcy court judge on Tuesday delayed approval of a deal that would allow auto parts supplier Delphi Corp. to sell its steering business to General Motors Corp. in order to give the Obama administration’s auto task force more time for review.
Daimler gets order for 260 buses from Dubai (AP)
German car and commercial vehicle maker Daimler AG said Tuesday its EvoBus division received an order for 260 Mercedes-Benz Citaro city buses from the Emirate of Dubai, but didn’t release financial details.