GM

General Motors will build 60,000 more cars and trucks thanks to the success of 'Cash for Clunkers', that helped Motors Liquidation Company (OTC:MTLQQ) shares move 5%.

General Motors Corp. (NYSE:GM) said today that a majority of its bondholders had refused to exchange their $27 billion in debt for equity in the company, making a bankruptcy filing for the automaker nearly certain within days.

General Motors (NYSE:GM) notified 1,100 of its 6,000 dealerships Friday that it is terminating their contracts with the struggling automaker, the first step in cutting up to 40% of its retail network.

General Motors (NYSE:GM) shares dropped 20% today as investors feared significant dilution of their stock values or bankruptcy as the company approached a June 1 restructuring deadline.

A group of individuals who rely on General Motors (NYSE:GM) bonds to pay their living expenses and other costs want a better deal than what the automaker has offered them, which could leave them with pennies on the dollar.

If there was any doubt AutoNation (NYSE:AN) is pulling away from the pack as the premier auto dealer last week, this quarter, in this environment ought to put any doubt to rest. These results surpassed even my most optimistic scenarios.

General Motors (NYSE:GM) shareholders received a blow today after the NY Times reported that GM has to start preparing for a bankruptcy filing by June 1st, 2009.

Wilbur Ross talks about GM (NYSE:GM) and Chrysler with AutoNation's (NYSE:AN) Mike Jackson on CNBC.