An unusual meeting took place this week at a law office high in a Times Square skyscraper. Lawyers from about 100 law firms participated, either in person or by phone. The agenda: solidifying a strategy for taking on General Motors in bankruptcy court.
Mary T. Barra, General Motors’ chief executive, announced another round of wide-ranging recalls Monday, a sign that the company was moving with a new sense of urgency on safety problems after it disclosed a decadelong failure to fix a defect tied to 12 deaths.
DETROIT — Chrysler’s plan for a public stock offering would ordinarily be cause to celebrate the automaker’s comeback from its government bailout and bankruptcy in 2009. But the company’s filing for the offering, which came late on Monday, is hardly a moment of triumph.
The formula for better fuel economy in cars has long been a simple equation: The smaller the vehicle, the farther it goes on a gallon of gas.
Tax credits, rebate checks, personalized home visits, government giveaways — even customer service calls from top corporate executives.
Toyota has recalled 6 million cars in the United States over concerns about sudden acceleration. But an analysis of government documents shows that many Toyota Camrys built before 2007, which were not subject to recalls, have been linked to a comparable number of speed-control problems as recalled Camrys.
While its cross-town rivals stumbled through bankruptcy this summer, the Ford Motor Co. pressed its advantage, and delivered surprising news Monday that its cost-cutting efforts and improving sales helped it earn nearly $1 billion in the third quarter.
President Barack Obama delivered an ultimatum to General Motors and Chrysler on Monday, telling them to adopt radical changes in short order or face bankruptcy — a move that came after a series of somber discussions in which he concluded that a controlled bankruptcy might be the best way to reorganize the two ailing auto giants.
Sales of new cars and trucks in the United States plummeted in October to levels not seen in the auto industry in 25 years.