Restructuring the Carmakers: What It Means for Consumers

Automobile giants GM and Chrysler struggle to survive

Thursday, May 28, 2009

Both GM and Chrysler will be restructuring their businesses under bankruptcy protection. After GM announced that it failed to convince bondholders to a debt-swap, the U.S. automaker appears heading towards insolvency. That could mean the federal government will get a 70% ownership stake in a post-chapter 11 General Motors. And Chrysler ended a marathon hearing in bankruptcy court Wednesday as it tries to get approval to sell its assets to Italian automaker Fiat. For the details of how two such large-scale bankruptcies work and what the aftermath could look like, The Takeaway talks to New York Times auto reporter Micheline Maynard and bankruptcy expert John Pottow, Law Professor at University of Michigan.


Micheline Maynard and Professor John Pottow

Hosted by:

Farai Chideya

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.