The Different Kind of Car Company never had a shot given its hereditary defects. Godspeed Saturn. Source: Cagle.com
General Motors
Apocalypse Detroit
Detroit is a scary city as evidenced by these incredible images by 7 contemporary photographers. Mitch Cope has put together a masterpiece, a set of photographs of the city that capture the hopelessness and devastation in a way that 1000 newspaper and magazine articles never could. In some of these pictures, Detroit looks almost like…
Breakfast Links: Facebook, GM, E*Trade and Oil Speculators
General Motors (GM) is now forced to play diplomat as the shots are no longer called from Detroit, but from China and Russia. (Bloomberg) Oooooh! Maybe we will one day get serious about disallowing speculators from screwing with oil and gas prices! (NYT) Tough times for angel investors, even if you were a backer of…
Pssst…Wanna Buy GM's Jersey Golf Course?
The General Motors Garage Sale is in full effect, with the bankrupt behemoth selling off all random and peripheral properties and businesses it’s acquired over the last 100 years. For sale currently are such thrilling items as a parking lot in Flint, Michigan and a self-polluted stretch of land bordering the St Lawrence River that…
Bankruptcy Epitaphs 2009
Lots of high profile bankruptcies in 2009 and we’re only at the halfway point… I wrote and designed a few tombstones for our fallen corporations. Here are The Reformed Broker’s Bankruptcy 2009 Epitaphs: Eddie Bauer Rest In Peace Too Bad Nobody Would Buy Your Fleece Six Flags 1961 – 2009 You Must Be This Tall…
Bankruptcy Bubble Bonanza in the Big Apple
The bankruptcy boom has kept New York law firms and restructuring shops humming throughout the downturn as companies and whole industries have fallen apart. From Crain’s New York: The 1,217 corporate bankruptcy filings in New York’s Southern District so far this year are nearly double the number filed in second-place Delaware over the same period,…
GM Super-Psyched for Reinvention
[vodpod id=Groupvideo.2687464&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] It’s only June 7th and already, I have my Atrocity of the Month post prepared. Someone tell me who in Crom’s name paid for this whitewash? “We need to reinvent ourselves“? Really? Just a few months ago, the Rick Wagoner regime didn’t even consider bankruptcy an option, “it’s not even on the table,”…
King Obama and his Feudal Lords
I try to avoid being overtly political here on TRB, but something foul is afoot in our capital markets that needs to be addressed. The treatment of institutional and hedge fund bondholders in both the Chrysler and General Motors situation has one very apropos historical parallel that comes to mind, the Anglo-Norman invasion and conquest…
Market Recap: GM's a Zero
[youtube=http://www.youtube.com/watch?v=2a8skzlhxDY] The Reformed Broker, AKA The Sugar Bear, here with today’s Market Recap… OK, finally, General Motors (GM) makes it official. They’re a Zero. Let’s move on. And would you believe that the auto-related stocks rallied? That’s either a short-squeeze or the finality and closure that this industry needed… Check ’em out at the 3:15 look,…
The Executioner Wore Abercrombie
Who is Brian Deese? You’re going to love this one. He’s the latest heartthrob out of the Obama administration who’s been called up to run the GM bailout/ bankruptcy/ clusterf&ck. And he’s, like, 31 years old. From the New York Times: A bit laconic and looking every bit the just-out-of-graduate-school student adjusting to life in…
