The world’s largest car maker until its fall from the top spot last year, Detroit-based GM filed Chapter 11 bankruptcy reorganization this morning; it is expected to successfully emerge a more competitive company. GM's less profitable brands like Saab and Saturn will be sold or liquidated, and the Wall Street Journal reported yesterday that it is closing on the sale of its Hummer brand. GM also plans to eliminate Pontiac.
Officials at Courtesy Automotive Group and Service Chevrolet, Lafayette's two GM dealerships, could not be reached for comment this morning. Courtesy is the state’s No. 1 seller for Pontiac, GMC and Buick brands, and Service is tops in the state for Chevrolet sales. These dealerships are suffering from declining sales related to the national recession, though they have weathered the downturn much better than most of their counterparts across the country.
Bloomberg reported today:
GM reported $82.3 billion in assets and $172.8 billion in debt. The U.S. government will bankroll the transformation of the 100-year-old automaker, a victim of tumbling sales and higher gas prices. The U.S. plans to convert much of its $50 billion of loans to a 60 percent stake in the new entity. Today’s filing in New York coincides with a deadline for GM to convince a government auto task force that it could reorganize out of court through debt and cost cutting.
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Saturday the athletic department did everything possible to ensure the 2014 Ragin’ Cajun seniors remembered fondly their last home game. Rain and lightning never arrived but turbulence did in the form of the Appalachian State Mountaineers.
Even stranger than the Republican Party’s decision to hold a “unity rally” earlier this month for Congressman Bill Cassidy in a Baton Rouge bar, Huey’s Bar, was the fact that the establishment was named after Louisiana’s most famous Democrat.
Bar Code is not a gay bar.
After failing to pass a medical marijuana bill last year, state Sen. Fred Mills, R-Parks, is telling supporters he will return in 2015 with legislation that focuses on different applications like oils and pills.
Voters, obviously, are not yet tuned into the 2015 ballot, despite the intriguing races it will host.
Acadiana's nightlife guide.
Saints Street cottage or River Ranch condo
By now, the story of how longtime LSU coach Dale Brown discovered Shaquille O'Neal has been told many times: Brown happened upon a massive 13-year-old at an army base in Germany, stayed in touch with him and eventually became like a second father.
Fate simply wasn't ready to give the New Orleans Saints a break from longtime nemesis Steve Smith.
Facing opposition from a powerful industry, the governor and many in the Legislature, a New Orleans-area flood board's lawsuit against dozens of oil, gas and pipeline companies seemed doomed early on.
"I want to take an opportunity to thank the people of Lafayette for allowing me to serve you for the last three years as your school superintendent."
After Thanksgiving, the small town of Moreauville plans to confiscate and kill all rottweilers and pitbulls, including a service dog.
Pot industry gearing up for holiday shoppers; uncertainty in Ferguson; Patriots' winning streak and more national and international news for Monday, November 24, 2014.
Monday's Blogs from the Bog!
Lafayette Police have had a busy day.
Gov. Bobby Jindal's administration will use $130 million in patchwork financing from a tax amnesty program, insurance settlement, uninsured motorist penalties and other excess funds to close most of the state's midyear budget deficit.
Democratic U.S. Sen. Mary Landrieu said she disagrees with President Barack Obama's actions on immigration, hoping the latest controversy doesn't worsen her campaign difficulties.
Two bedroom in Lafayette or two bedroom in Kaplan
Sennond trunk show at kiki
Gay-rights advocates challenging Louisiana's same-sex marriage ban announced Thursday that they have asked the U.S. Supreme Court to review their case before it is heard by a federal appeals court.
Thursday’s explosion aboard an oil production platform in the Gulf of Mexico is now under investigation by the Bureau of Safety and Environmental Enforcement.
Acadiana's nightlife guide.
Thinking himself the “son of God,” the man charged with the 2013 killing of an officer of the Chitimacha Tribal Police will not stand trial following a ruling Thursday on his mental competency.
Four hours after inviting supporters to a rally with Sen. Marco Rubio, Bill Cassidy claimed that Mary Landrieu “voted against stopping executive amnesty.”
Either Saints coach Sean Payton doesn't want to tip Baltimore off as to who'll start in New Orleans' secondary on Monday night, or he really doesn't know yet.
Money from the first and only settlement so far in a Louisiana flood board's lawsuit against dozens of energy companies will be placed in a special account dedicated to coastal restoration.
The Ethics Board gives the lame duck Youngsville mayor permission to offer a sweet parting gift to the community he’s presided over for three terms.
Carencro ranch style home or three bedroom traditional in St. Martinville