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No End to the Nightmare
Detroit has been given a brief reprieve, but the threat of bankruptcy still looms.
December 31, 2008
The sense of relief in Detroit that greeted the $17.4 billion federal lifeline thrown by President Bush to General Motors and Chrysler just before Christmas is unlikely to last long. The terms of the bridging loans amount to a gun at the heads of the two carmakers and their stakeholders. Unless they use the next three months to negotiate a viable way forward, the loans will be called in at the end of March — and bankruptcy will follow. Read more...
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More Restructuring Articles
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A Splash in the Tank
George Bush bails out America's carmakers temporarily—now they are Barack Obama's problem. December 22, 2008
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Riding the Rollercoaster
Six firms in cyclical industries battle excess debt. December 16, 2008
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Near the End of the Road
The Senate turns away America's carmakers empty-handed. December 12, 2008
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Tribune's Bankruptcy May Trigger Tax Complications
The private media company could be in danger of losing its favorable tax status if creditors make a grab for its stock. December 9, 2008
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A Deal for Detroit?
Congress appears poised to agree upon a temporary bail-out for troubled American carmakers. December 9, 2008
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Swaps: It's Bailout or Bankruptcy for Carmakers
New price data on credit-default swaps written against Ford and GM point to a government rescue or bankruptcy, with no middle road. December 5, 2008
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Auto Aid Deal Closer
Congress may be willing to back off from their demands that any financial rescue package be paid for from the existing $700 billion bailout fund. December 5, 2008
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White House Warms to Auto Aid
President Bush might consider providing more than the $25 billion in previously allocated funds. December 3, 2008
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Stockholm Syndrome
Bad banks were a big part of Sweden’s 1990s rescue package. December 2, 2008
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Companies have never been more motivated to revisit risk management, but improvements will come slowly.
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