General Motors Chapter 11 reorganization preferred court. Normally for such cases, the company would have filed in the courts located in the state(s) where the company is incorporated, or where it conducts operations, which for Detroit-headquartered General Motors would have been the courts in Michigan or Delaware, where it is incorporated. General Motors' attorneys, however, preferred to file in the federal courts in New York, because those courts have a reputation for expertise in bankruptcy. In a press conference later that day, the GM Chief Executive Officer, Fritz Henderson, stressed that he intended for the bankruptcy process to move quickly. In addition to Mr Henderson's
Chrysler remains of the Maxwell Motor Company. He expanded the company in 1928 with the acquisition of Fargo Trucks and Dodge Brothers, and the creation of the Plymouth and DeSoto brands. Chrysler used the General Motors brand diversification and hierarchy strategy he had seen working for Buick. Facing postwar declines in market share, productivity, and profitability, as GM and Ford were growing, Chrysler borrowed $250 million in 1954 from Prudential Insurance to pay for expansion and updated car designs. In the 1960s the company expanded into Europe, by taking control of French, British and Spanish auto companies; Chrysler Europe was sold