GM files for Chapter 11. GM India not affected.
GM India has clarified that they are not affected by the announcement that GM has filed for Chapter 11 in the USA.
The Indian subsidiary said that they are going to perform as per their own plans as they are not included in the bankruptcy protection.
Nick [...]
GM to build small cars in USA
General Motors has announced that they would now be manufacturing a new small car in the US market at one of their idled plants.
The company said that the plant would be able to manufacture 160,000 small and compact cars per year.
GM has yet not decided which plant they would [...]
Sun-Times Media Group files for Chapter 11
Sun-Times Media Group has filed for bankruptcy protection.
They are the owners of Chicago Sun-Times and many other newspapers.
Market analyst Mike Simonton spoke about them: “We’d be surprised if they are publishing a print daily newspaper by the end of 2010. They’ve been on the clock for [...]
Charter Communications to file for bankruptcy protection
Charter Communications has announced that they are now planning to file for Chapter 11 bankruptcy.
The company said that they have reached an agreement in principle with their debt holders.
They would now receive common shares, or warrants for rights to get common shares.
Paul Allen would continue to remain an [...]
Sirius XM could file for Bankruptcy
The New York Times has reported that US based satellite company Sirius XM Radio could soon file for bankruptcy.
The report said that the company has hired advisers to prepare for a possible bankruptcy filing.
It is not clear whether bankruptcy filing would hit the services being delivered to the subscribed [...]
Nortel Networks files for bankruptcy
Nortel Networks is the largest telephone equipment maker in the North American market.
The company however is not in good shape as they have now filed for bankruptcy.
Nortel still remains one of the largest employers in the Canadian market.
It has around 32,000 employees. This is down from 90,000 in [...]
Circuit City Stores files for bankruptcy protection
It was bound to happen. Circuit City Stores has now filed for bankruptcy protection.
The company had been struggling and just failed to survive against the competition from companies like Wal-Mart and Best buy.
The company recently said that they would close down 155 stores and fire 17% of their [...]
