General Motors said on Thursday that it has agreed to buy AmeriCredit for $3.5 billion in cash, the car maker’s first effort to reestablish an in-house lending arm after selling off GMAC in 2006. The deal, G.M.’s first since emerging from a government-sponsored bankruptcy last year, follows months of deliberations by the car maker over [...]
DETROIT–Chrysler Group LLC will invest $300 million in two Indiana plants to build a new eight-speed automatic transmission aimed at boosting the auto maker’s overall fuel efficiency while protecting 1,200 manufacturing jobs. Production at the Kokomo casting and transmission plants will start in 2013, the auto maker said in a statement Wednesday. The $300 million [...]
Today we have two brand new clips for the upcoming Oliver Stone sequel Wall Street: Money Never Sleeps, which will make its world premiere at the Cannes Film Festival this week (May 14). In the film, Jacob Moore (Shia LaBeouf) is a very successful investment banker, but his firm is being threatened with bankruptcy. After [...]
April 27 (Bloomberg) — CIT Group Inc., the commercial lender run by John A. Thain, posted a surprise profit in its first full quarter since emerging from a bankruptcy that erased $2.3 billion of government bailout money. Net income for the three months ended March 31 was $97 million, or 49 cents a share, according [...]
DETROIT — Chrysler Group LLC lost a staggering $3.8 billion from the time it left bankruptcy protection June 10 through the end of last year, but the automaker says its fortunes improved dramatically in the first quarter. The struggling company, now run by Italy’s Fiat Group SpA, cut its net loss to $197 million from [...]
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