Thursday, May 28, 2009

Auto News May 28, 2009:
Visteon goes C11
Opel Sale Hits Roadblocks
GM Sweetens Offer to Bond Holders - Some Accept

Here's the quick & dirty. Visteon Corporation, formerly part of Ford Motor Company, has filed for chapter 11 bankruptcy, at least for its USA operations. General Motors is having trouble giving Opel away. General Motors sweetened its offer to its bondholders, and the bondholders committee has endorsed the proposal. No time for analysis now.
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