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Chrysler Chapter 11 Reorganization
Chrysler LLC and 24 of its affiliated subsidiaries filed a consolidated petition for bankruptcy on April 30, 2009, with the federal bankruptcy court in New York. The court filing occurred upon failure of the company to come to an agreement with its creditors for an outside-of-bankruptcy restructuring plan, by the April 30 deadline mandated by the federal government. At the time, Chrysler was controlled by the private investment company, Cerberus Capital Management, which, along with other investors, purchased a majority stake in 2007. Initial court proceedings On Sunday, May 31, 2009, bankruptcy judge Arthur J. Gonzalez approved a proposed government restructuring plan and sale of Chrysler's assets. The sale allows most of the assets of Chrysler to be purchased by a new entity in which Fiat would own 20%, and the autoworker's union retirement health care trust (voluntary benefit association "VEBA") 55%, with the U.S. and Canadian government as minority stakeholders. Secured bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 11, Title 11, United States Code
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tom LaSorda
Thomas Charles Lasorda (September 22, 1927 – January 7, 2021) was an American professional baseball pitcher and manager. He managed the Los Angeles Dodgers of Major League Baseball (MLB) from 1976 through 1996. He was inducted into the National Baseball Hall of Fame as a manager in 1997. Lasorda played in MLB for the Dodgers in 1954 and 1955 and for the Kansas City Athletics in 1956. He coached for the Dodgers from 1973 through 1976 before taking over as manager. Lasorda won two World Series championships as manager of the Dodgers and was named the Manager of the Year of the National League (NL) twice. His uniform number 2 was retired by the Dodgers. Playing career Lasorda graduated from Norristown High School in Norristown, Pennsylvania, in 1944. He signed with the Philadelphia Phillies as an amateur free agent in 1945 and began his professional career that season with the Concord Weavers of the Class D North Carolina State League. He missed the 1946 and 1947 seasons be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of The Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and coins, while the treasury executes its circulation in the domestic fiscal system. The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indiana State Police Pension Trust V
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th state on December 11, 1816. It is bordered by Lake Michigan to the northwest, Michigan to the north, Ohio to the east, the Ohio River and Kentucky to the south and southeast, and the Wabash River and Illinois to the west. Various indigenous peoples inhabited what would become Indiana for thousands of years, some of whom the U.S. government expelled between 1800 and 1836. Indiana received its name because the state was largely possessed by native tribes even after it was granted statehood. Since then, settlement patterns in Indiana have reflected regional cultural segmentation present in the Eastern United States; the state's northernmost tier was settled primarily by people from New England and New York, Central Indiana by migrants from t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Motors
The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and was the largest in the world for 77 years before losing the top spot to Toyota in 2008. General Motors operates manufacturing plants in eight countries. Its four core automobile brands are Chevrolet, Buick, GMC (automobile), GMC, and Cadillac. It also holds interests in Chinese brands Wuling Motors and Baojun as well as DMAX (engines), DMAX via joint ventures. Additionally, GM also owns the BrightDrop delivery vehicle manufacturer, GM Defense, a namesake Defense vehicles division which produces military vehicles for the United States government and military; the vehicle safety, security, and information services provider OnStar; the auto parts company ACDelco, a GM Financial, namesake financial lending service; and majority ownership in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Volkswagen
Volkswagen (),English: , . abbreviated as VW (), is a German motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into a global brand post-World War II by the British Army Officer Ivan Hirst, it is known for the iconic Beetle and serves as the flagship brand of the Volkswagen Group, the largest automotive manufacturer by worldwide sales in 2016 and 2017. The group's biggest market is in China, which delivers 40 percent of its sales and profits. Its name is derived from the German-language terms and , translating to "people's car" when combined. History 1932–1940: People's Car project Volkswagen was established in 1937 by the German Labour Front (''Deutsche Arbeitsfront'') in Berlin. In the early 1930s, cars were a luxury – most Germans could afford nothing more elaborate than a motorcycle and only one German out of 50 owned a car. Seeking a potential new market, some c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Honda
is a Japanese public multinational conglomerate manufacturer of automobiles, motorcycles, and power equipment, headquartered in Minato, Tokyo, Japan. Honda has been the world's largest motorcycle manufacturer since 1959, reaching a production of 400 million by the end of 2019, as well as the world's largest manufacturer of internal combustion engines measured by volume, producing more than 14 million internal combustion engines each year. Honda became the second-largest Japanese automobile manufacturer in 2001. In 2015, Honda was the eighth largest automobile manufacturer in the world. Honda was the first Japanese automobile manufacturer to release a dedicated luxury brand, Acura, in 1986. Aside from their core automobile and motorcycle businesses, Honda also manufactures garden equipment, marine engines, personal watercraft, power generators, and other products. Since 1986, Honda has been involved with artificial intelligence/robotics research and released their ASIMO rob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toyota
is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 million vehicles per year. The company was originally founded as a spinoff of Toyota Industries, a machine maker started by Sakichi Toyoda, Kiichiro's father. Both companies are now part of the Toyota Group, one of the largest conglomerates in the world. While still a department of Toyota Industries, the company developed its first product, the Type A engine in 1934 and its first passenger car in 1936, the Toyota AA. After World War II, Toyota benefited from Japan's alliance with the United States to learn from American automakers and other companies, which would give rise to The Toyota Way (a management philosophy) and the Toyota Production System (a lean manufacturing practice) that would transform the small company into a leader i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arthur Gonzalez
Arthur J. Gonzalez is a senior fellow at New York University School of Law and member of the PROMESA oversight board in charge of resolving the Puerto Rican government-debt crisis. Before his retirement from the bench, he was chief judge of the United States Bankruptcy Court for the Southern District of New York. Gonzalez received his undergraduate degree from Fordham University in 1969. Following graduation, he worked as a New York City public school teacher until 1982, earning a master's degree from the Brooklyn College School of Education. After earning a law degree in the Evening Program at Fordham in 1982, Gonzalez became an attorney for the Manhattan District Counsel Office of the Internal Revenue Service (IRS). He left the IRS in 1988 and worked as a private lawyer for several firms. During this period, he earned a Master of Laws from New York University (NYU). In 1991, Gonzalez re-entered government to become an Assistant United States Trustee for the Southern Distric ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Port Huron, Michigan
Port Huron is a city in the U.S. state of Michigan and the county seat of St. Clair County. The population was 30,184 at the 2010 census. The city is adjacent to Port Huron Township but is administered separately. Located along the St. Clair River, it is connected to Point Edward, Ontario in Canada via the Blue Water Bridge. The city lies at the southern end of Lake Huron and is the easternmost point on land in Michigan. Port Huron is home to two paper mills, Mueller Brass, and many businesses related to tourism and the automotive industry. The city features a historic downtown area, boardwalk, marina, museum, lighthouse, and the McMorran Place arena and entertainment complex. History This area was long occupied by the Ojibwa people. French colonists had a temporary trading post and fort at this site in the 17th century. In 1814 following the War of 1812, the United States established Fort Gratiot at the base of Lake Huron. A community developed around it. The early 19th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Newark, Delaware
Newark ( )Not as in Newark, New Jersey. is a small city in New Castle County, Delaware, United States. It is located west-southwest of Wilmington. According to the 2010 Census, the population of the city is 31,454. Newark is home to the University of Delaware. History Newark was founded by Scots-Irish and Welsh settlers in 1694. The town was officially established when it received a charter from George II of Great Britain in 1758. Schools have played a significant role in the history of Newark. A grammar school, founded by Francis Alison in 1743, moved from New London, Pennsylvania to Newark in 1765, becoming the Newark Academy. Among the first graduates of the school were three signers of the Declaration of Independence: George Read, Thomas McKean, and James Smith. Two of these, Read and McKean, went on to have schools named after them in the state of Delaware: George Read Middle School and Thomas McKean High School. During the American Revolutionary War, British ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
