Regions Midwest | Detroit
Economic Update - Fast-Track Chrysler Reorganization Stalls
Jun 09, 2009
The Chrysler reorganization and sale to Fiat, which
was to have been a model of a quick turn-around, has hit a snag in the
form of a court order by U.S. Supreme Court Associate Justice Ruth
Bader Ginsburg. Pension funds that hold some of Chrysler’s secured loan
are objecting to the goings-on, claiming it isn’t fair to them, and so
petitioned Justice Ginsburg for the measure. It isn’t clear how long
the temporary stay will delay the sale, or whether it will kill the
sale, or whether the full court will reverse the stay in a few days.
It’s unlikely, though, that the legal wrangling will affect the fate of
the Chrysler dealerships slated for closing, or change the amount of
real estate their closing will put on the market.
Economic Update - Seismic Shifts in Auto Industry Have CRE Implications
Jun 02, 2009
Monday was an historic day in Detroit, and arguably for the entire U.S.
manufacturing sector, even though GM's formal announcement of
bankruptcy, along with President Obama's promise for more than $30
billion for a company in which the U.S. Government will soon own a
controlling interest, weren’t surprises . A little more surprising
(only a little) was the quick approval by Chrysler's bankruptcy judge
of the sale of most of its assets to a group led by Fiat SpA, meaning
that the Detroit automaker will continue to exist in one form or
another, albeit with Italian bosses. But the fact that both events
happened the same day is an unusual coincidence indeed.
Comprehensive Detroit Real Estate Market Analysis
There are a wide range of real estate magazines published each month but only one can provide comprehensive real estate news that commercial real estate developers can rely on- Commercial Property News. This industry-leading real estate magazine covers all the developments in the real estate market happening everywhere in the world.
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