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A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC:
GENERAL MOTORS -- DAY 26
WHERE DOES IT STAND?: Friday marked Detroit-based GM's 26th day under court protection.
GM said Friday it would use an idled midsize car plant in Orion Township, about 40 miles north of Detroit, to assemble small and compact cars. The automaker also had considered plants in Janesville, Wis., and Spring Hill, Tenn.
GM said it expects to start retooling the Orion assembly plant in late 2010, and run two shifts there by 2011, producing 160,000 vehicles annually. The move will save 1,200 jobs.
The news is a bright spot in an otherwise gloomy Michigan economy that has seen unemployment hit a nation-leading 14.1 percent, lots of housing foreclosures and uncertainty for thousands of others worried about whether they'll still be getting a paycheck in the months ahead.
WHAT'S NEXT?: A hearing on GM's plan to sell its assets to a new government-controlled company and emerge from Chapter 11 is scheduled for Tuesday.
CHRYSLER
WHERE DOES IT STAND?: Auburn Hills, Mich.-based Chrysler Group LLC emerged from Chapter 11 last week after a new company was created by the sale of most of the automaker's assets to a group led by Italy's Fiat Group SpA.
Chrysler said Wednesday that it will end production of the Dodge Ram at its St. Louis North Assembly plant on July 10.
St. Louis North is one of the five plants the company said it will close by the end of 2010, as they were considered "bad assets" under Chrysler's bankruptcy protection filing.
The St. Louis plant has been closed since Chrysler filed for bankruptcy protection in April, but it will briefly resume production for two weeks starting June 29 to fulfill remaining orders for Ram trucks.
WHAT'S NEXT?: Chrysler assets not sold to Fiat, including eight plants, remain under Chapter 11 protection. Hearings to decide what to do with these so-called bad assets and to settle claims by the company's creditors will continue. The next hearing is scheduled for Tuesday.
