Court Confirms Hayes Lemmerz International’s Plan of Reorganization
The court’s confirmation order is conditioned upon the company obtaining exit financing. Hayes Lemmerz is currently working with a number of potential lenders to structure exit financing of approximately $100 million.
Northwood’s 46th Annual International Auto Show Focuses on Fuel-Efficient Vehicles and the Changing Industry
The theme for the largest outdoor new car auto show is “Reinventing the Wheel: Welcome to the Next Automotive Era.”
Alcoa CEO Klaus Kleinfeld Named Chairman of U.S.-Russia Business Council
Kleinfeld succeeds Neville Isdell, who is stepping down following his retirement as chairman and CEO of the Coca-Cola Company.
AutoZone Contract Adopted by the State of Arkansas
The contract will allow state agencies and local municipalities in the State of Arkansas the opportunity to realize the cost savings provided on all of the products offered under the AutoZone contract.
Goodyear Board Elects Richard Kramer Chief Operating Officer
The new role is effective immediately and will be in addition to Kramer’s current role as president of the company’s North American Tire business until his successor is named.
Coalition Formed to Battle USW Over China Scheme
“Restricting imports is not the answer to our economic problems, which are not unique to the tire industry,” said lead attorney Marguerite Trossevin.
Court Approves Sale of Chrysler LLC Operations to New Company Formed with Fiat
The deal, valued at approximately $2 billion, gives a 55 percent share of the new company to a UAW trust for retirees, a 20 percent stake to Fiat and smaller shares to the U.S. and Canadian governments.
Cummins Well Positioned to Emerge from Recession Stronger Than Ever, Says Chairman and CEO Tim Solso
“We have reacted more quickly and decisively in this recession than in any of the previous five recessions I have experienced in my nearly 40 years at Cummins,” Solso said.
Chrysler and Fiat Group Announce Global Strategic Alliance
Nardelli to leave Chrysler following emergence from bankruptcy.
Reaction to Chrysler Restructuring
Ford, GM and NADA react to Chrysler’s restructuring. The governments of Canada and the U.S. do, too.