This is a video “discussing whether the Obama administration has intervened too much in business affairs, with Thomas Lauria, White & Case attorney and CNBC’s Michelle Caruso-Cabrera.”  As GM has similar circumstances, the case is still very relevant.
Note: I think Lauria forgets that the U.S. government had poured billions into the carmakers and that his [...]

Reuters is reporting that the dissident Chrysler lender group has disbanded. Apparently, the lenders have finally figured out that they have zero chance of getting what they want as I have been saying all along (see posts here and here).  Let’s see what is in store at General Motors now.
A group of Chrysler LLC’s dissident [...]

Volkswagen and Porsche have finally hammered out a merger plan after some bitter infighting. My understanding is that the new company will carry the Porsche name and trade under its ticker symbol. In addition, the company plans to raise more capital to pay off debt before the merger goes through. Why Porsche took on so [...]

As developments in the global auto industry continue apace, it is becoming increasingly evident that Fiat has fashioned itself as a change agent in an industry rife with overcapacity. While eyes in the U.S. are fixed on a Fiat-Chrysler link-up, eyes in Europe are also fixed on Fiat in a Fiat-GM Europe merger.  But, these [...]

Yesterday, I posted a video in which two auto experts argued that the dissident creditors were getting a raw deal (See “A discussion about Chrysler’s bankruptcy plan on Charlie Rose“). The crux of the problem is their belief that they were being railroaded into a deal in which they, as secured creditors, would receive [...]

A discussion about Chrysler’s bankruptcy plan with author Paul Ingrassia, Micheline Maynard, Senior business correspondent for the “New York Times” and John Stoll of “The Wall Street Journal”

Share

I will be on the BBC World Service at 2PM ET talking about the Chrysler bankruptcy. First will be a television interview and then a radio interview. I will post the clips if and when they become available.
Share

Attorney Angela Somers, Senior Counsel at Allen & Overy talks about Chrysler struggling to avoid bankruptcy.  She is an expert in bankruptcy and she is sounding a lot less upbeat about a quick and painless process than Obama.  She even mentions the word “liquidation.” 
Not to doom-monger here, but it is pretty scary stuff. On [...]

It looks like Chrysler is going down for the count. A few piggish bondholders decided to play chicken with the Federal Government. They are going to lose this game and, consequently, lots of money too. Chrysler and the Obama Administration did not have a strong hand. Their best alternative to a negotiated [...]

This comes from Bloomberg:
President Barack Obama plans to announce tomorrow that Chrysler LLC will be placed into Chapter 11 bankruptcy, leading to an alliance with Italian automaker Fiat SpA, people involved in the matter said.
Administration officials are still resolving outstanding issues, and the plan is not finished yet, said one of the people, who declined [...]