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 Building technological changes. Consumer goods such as radio, cinema, and the automobile—whose use grew exponentially in the 1920s—became widespread. In 1927, Walter Chrysler's automotive company, the Chrysler Corporation, became the third-largest car manufacturer in the United States, behind Ford and General Motors. The following year he was named "Time" magazine's "Person of the Year". The economic boom of the 1920s and speculation in the real estate market fostered a wave of new skyscraper projects in New York City. The Chrysler Building was built as part of an ongoing building boom that resulted in the city having the world's tallest building from