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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School board members Mark Babineaux, Hunter Beasley and Tehmi Chassion can vote to fire Cooper — because we all know that’s exactly what they’ll do.
District 2 school board candidate Simon Mahan is hoping to unseat first-term incumbent and former Carencro Mayor Tommy Angelle in the Nov. 4 election.
District Attorney Mike Harson is showing his desperation by falsely attributing quotes to his opponent and blocking journalists from his social media.
Three bedroom Acadian or a two bedroom town home
Ready to geaux in purple and gold
The governor is traveling the country laying the groundwork for a possible 2016 presidential campaign, but his approval ratings at home hover well below 50 percent.
State District Judge Bob Downing extended the order and delayed a planned Wednesday hearing about a permanent injunction while negotiations continue between Attorney General Buddy Caldwell and the waste disposal site operator.
New Louisiana higher education commissioner Joseph Rallo will be paid more than his predecessor.
The recently established Downtown Lafayette Restaurant & Bar Association will host a special viewing of the upcoming New Orleans Saints taking on the Carolina Panthers in the open air of Parc Sans Souci on Thursday, Oct. 30.
Belief in a national outbreak of the Ebola zombie virus is becoming more of a threat every day, and The Hayride — Louisiana’s one true bastion for unrelentingly conservative political commentaries — thought it wise to share a certain special someone's “important message” with readers Tuesday on what to do when, not if, it comes.
Acadiana's nightlife guide.
Elijah McGuire and Alonzo Harris each had four rushing touchdowns, and Louisiana-Lafayette rolled to 419 yards on the ground in a 55-40 victory over Arkansas State on Tuesday night.
Bill and Hillary Clinton are the validators-in-chief for Democrats struggling through a bleak campaign season in states where President Barack Obama is deeply unpopular.
JPMorgan Chase is giving $1 million to Louisiana's community and technical colleges, to help with workforce training efforts to match students to available jobs.
President Barack Obama is turning to black radio listeners to plead for midterm votes, a targeted approach to drum up Democratic support at a time when many candidates don't want him around in person.
WaPo Watergate editor Ben Bradlee dies; Clintons stump for Dems; Liberians stranded and more national and international news for Wednesday, October 22, 2014.
Wednesday's Blogs from the Bog!
Law firm unveils newly renovated 200-year-old building.
UL grad named web developer at BBR Creative
Lafayette-based emergency department staffing and management company raises $120 million in senior credit facilities through GE Capital, Healthcare Financial Services.
High-rise apartment building, parking garage, hotel and retail part of new development.
A common thread runs through many of those we oppose: Enshrining in the Constitution protections on programs and their funding sources has had a disastrous effect on Louisiana’s most important economic development engine.
"I am extremely disheartened by the political machines that are attempting to hijack my efforts along with others that advocate for children."
Landrieu, who is fighting to keep her seat for a fourth term, said that Ebola is serious and precautions should be taken, but she accused Republicans of using the virus outbreak in West Africa to "create fear" here at home.
The number of Louisianans with jobs continued to set records in September, but the state's unemployment rate kept rising.
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Acadiana's nightlife guide.
Louisiana is drowning, quickly.
Law enforcement agencies are participating in a "Louisiana Heroin Summit," designed to address the recent rise in heroin use and drug-related deaths around the state.