Business

After Chrysler filed for bankruptcy one month ago, it was the turn of General Motors to file for bankruptcy under Chapter 11 protection. Today at 8 A.M. local time, General Motors declared bankruptcy at the federal court in Manhattan after they reported $81 billion losses in the last four years. GM is the biggest car [...]

The Wall Street Journal announced that Visteon Corp., an ex unit of Ford Motor Co, puts U.S. operations into Chapter 11 bankruptcy protection on Thursday along with auto supplier Metaldyne Corp.
Chrysler’s sale hearing that happened Wednesday will continue Thursday and it seems that former Chrysler president Tom LaSorda testified Wednesday that the association with Fiat [...]

Low cost airlines start to attract more and more clients as Jet America Airlines came out with 9 dollars fares that would start operating since July 13. The only question right now is how they are going to make money with so cheap fares.
Jet America Airlines 9 dollars fares will be transporting clients from Newmark, [...]

Mike Tyson’s daughter died on May 26 after suffering a strange and tragic home accident. The 4 year old girl got tangled into a cord connected to a treadmill in Tyson residence in Phoenix, Arizona. The girl was found by her brother who was sent there to look for her.
The police are considering this as [...]

The recent U.S. reform caused by the economic decline left a lot of small business owners in a very difficult situation especially when we are talking about credit cards. These kinds of reforms already hit the U.K. economy and right now everybody is asking which the best business credit card to get is.
Of course the [...]

BERLIN (AP) — After traces of cocaine were found in Red Bull Cola energy drink, a bewarege popular in Europe as well as in the States, sold heavily in clubs and discos, some states in Germany have proceeded to interdict the drink. Six German states have so far interdicted retailers to sell Red Bull, shortly [...]

GMAC’s convention on their bank’s survival plan took the decision to rebrand their company as Ally Bank. According to the company’s executives, the rebranding will help in deposit growth.
GMAC was initiallly founded in 1919 and was intended to finance GM vehicles customers.
“We certainly value our relationship with GM and GM continues to be an important [...]

General Motors has announced it’s plans to close about 1,100 dealerships and they are currently waiting for the letters to find out if they remain in business or not. According to GM, the dealers are expecting to get the letters, becuase they are only closing the ones that didn’t met the minimum sales volume and [...]

Intel broke a fine record after being penalized with almost one and a half billion dollars by the E.U. for using unfair sales tactics in the computer chip market. The only ones happy about the fine were the people from Advanced Micro Devices (AMD), Intel’s number one rival, who sued them and requested regulators to [...]