It is the mid-1980’s. Savings & Loan institutions are failing at an alarming rate. So many are insolvent, in fact, that the Federal Savings & Loan Insurance Corporation (FSLIC), the deposit insurer of thrifts at that time, is running out of money to close insolvent thrifts. What does FSLIC do? It seeks out purchasers, who [...]

Although they said it could not be done, headlines now proclaim that Chrysler and General Motors have navigated the bankruptcy process in record speed.  Indeed, new companies have “emerged” from each bankruptcy case.  However, both bankruptcy cases are still pending (see here and here), and much more still needs to be done in each bankruptcy case, [...]

For nearly two years, the credit markets have been tightening, making it difficult for consumers and businesses to get credit for purchases and operations.  Several financial institutions declared bankruptcy or were on the brink of failure.  The federal government has used a variety of strategies to prevent a full-scale financial meltdown, including slashing interest rates, [...]

According to the Detroit News, General Motors reversed the closing of 41 of the 2,100 dealerships originally targeted to be closed as part of GM’s bankruptcy and restructuring.Â

For more information, see the article in the New York Times.

The full Supreme Court Tuesday decided not to hear the merits of a challenge to the sale of Chrysler assets to a group comprised of Fiat, the US, Canada and the Chrysler Auto Worker Union Retirement Trust.  The unanimous court, in a two-page-opinion, lifted the temporary stay granted by Justice Ruth Bader Ginsberg on Monday, [...]

Bloomberg reports that Magna International Inc., Canada’s largest auto-parts supplier, is in talks with General Motors Corp. about acquiring the Saturn brand as the automaker shrinks operations, people familiar with the discussions said.

MAKE THE MOST OF TROUBLED TIMES.
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After serving on a recent panel with three local entrepreneurs at our local American Marketing Association luncheon. I thought some of the themes and ideas that were discussed at that lunch belong on this blog, because I firmly believe that small businesses, privately owned businesses,  – businesses started, owned and [...]

SEE OPPORTUNITY IN TROUBLED TIMES.
Recently, I was fortunate to be on a panel with three local entrepreneurs at our local American Marketing Association luncheon. The topic was ” Start a Business? In THIS Economy?!?” On the panel with me were:
Ed Gooding, Owner of The Merge Computer Group
Connie Hom, Owner of Buckingham Greenery
Darrell Jervey, Owner of [...]

President Obama and Treasury Secretary Timothy Geitner announced Monday that $15 billion of the Troubled Asset Relief Program (TARP) will be committed to the Small Business Administration (SBA) so that the government can purchase SBA-backed loans from the banks that have originated them. The SBA FAQ is here. SBA lending has crashed with all other [...]