lear

Talk about a depressing statistic: Lear Corp. (LEAR) today became the third major auto parts supplier to file for Chapter 11 bankruptcy in the past month. The company's fall from grace is hardly shocking given the precarious state of the U.S. auto industry and the economy overall. Back in March,...

On Wednesday, Lear Corp. (LEA) announced that it has filed for Chapter 11. This bankruptcy is supported by key lenders and bondholders; Lear has secured $500 million in debtor-in-possession financing from its creditors, including JP Morgan Chase and Citigroup. Lear, a Fortune 500 company that...

General Motors (GM) clearly surprised its shareholders yesterday by announcing the company's auditors said they had "substantial doubt about its ability to continue as a going concern." In other words, bankruptcy may be around the corner. That revelation sent the automaker's stock down 15.5...