‘Private Equity’ Archive

New GM boss starts Day 1

by Lee Simmons, September 1, 2010, 9:23 am

General Motors welcomes its fourth CEO in 18 months today, as Dan Akerson officially takes the reins from Ed Whitacre at the troubled automaker. Whitacre will also relinquish his chairman role to …

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EMI’s desperate days

by Lee Simmons, April 1, 2010, 1:43 pm

The once mighty EMI has marinated in bad news this year.

In February the record label withdrew plans to sell the iconic Abbey Road studios after a fierce public backlash. It then lost a court battle with …

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That’s how many days Chrysler (now rechristened Chrysler Group) spent in Chapter 11 bankruptcy reorganization — 42 days, or six weeks. The “quick” and “efficient” reorganization promised by President Obama came to an end this week, albeit with a quick run through the Supreme …

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General Motors watch: Judgment day

by Jeff Dorsch, June 1, 2009, 1:28 pm

What seemed improbable two months ago yet became very probable in the last week came to pass this morning: General Motors filed for Chapter 11 bankruptcy protection from creditors this morning in New York City.

The news was accompanied by a statement from the White House by …

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General Motors watch: Day 4

by Jeff Dorsch, May 29, 2009, 11:19 am

Before we had to go to war against Germany again (just kidding!), news came today that there may be resolution of the General Motors situation in Europe. While European Commission ministers jawed in Brussels, GM got down to it with Magna …

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General Motors watch: Day 3

by Jeff Dorsch, May 28, 2009, 12:24 pm

There’s LOTS going on in the automotive industry, with almost hourly news developments on various fronts. Some quick highlights:

• General Motors announced a deal with some of its bondholders that would see the creditors get up to 25% of the equity in the …

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General Motors watch: Day 2

by Jeff Dorsch, May 27, 2009, 10:37 am

As expected, the debt-for-equity exchange offer General Motors made to its unsecured bondholders fell well short of the acceptance level the company and the US Department of the Treasury were hoping for. The exchange offer expired last night, and GM’s board will meet to …

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Countdown to Chapter 11 for GM?

by Jeff Dorsch, May 22, 2009, 8:31 am

As most of America slouches into the Memorial Day weekend, the executive suite in the headquarters of General Motors won’t be dark and quiet over the holiday. The No. 1 US carmaker is right up against President Obama’s deadline of getting its latest restructuring in …

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From the secret diary of Robert Nardelli

by Jeff Dorsch, May 1, 2009, 12:44 pm

Dear Diary,

Well, what a busy day it’s been. Today we took the Chrysler company into Chapter 11, along with 24 US subsidiaries. After the lawyers had me spend hours signing lots of documents, I went back to my office and rocked out on …

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Pull over, Chrysler; GM’s comin’ through

by Jeff Dorsch, April 29, 2009, 7:52 am

The spotlight was supposed to be on Chrysler and its epic struggle to survive this week. Making most of the headlines, however, has been General Motors and its latest restructuring plan. Analogies to Götterdämmerung, anyone?

Chrysler started the week with promising developments …

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