GM emerges from bankruptcy
finance.yahoo.com — DETROIT (AP) -- General Motors Corp. CEO Fritz Henderson says the new GM will be far faster and more responsive to customers than the old one. Henderson announced on Friday that the company had emerged from bankruptcy protection far faster than anyone thought it could. (Submitted by chicagojack) More...
G.M. Bankruptcy Would Be History’s Most Complex
nytimes.com — It is not just lawyers who will be busy handling a G.M. bankruptcy filing, which would be perhaps the biggest and most watched in legal history. Because of its size and scope, the bankruptcy would be the most complicated that any American company has gone through — more complex than much-smaller Chrysler’s case. (Submitted by inactive) More...
GM to File For Bankruptcy on June 1
gm-volt.com — The 77 year old company plans to file for bankruptcy protection on Monday June 1. That same day will bring with it a press conference by President Obama who will likely spell out the details. This will be the fourth largest bankruptcy in US history and the largest for an industrial company. (Submitted by ljdmd) More...
General Motors Files For Bankruptcy
gm-volt.com — On June 1st at 8:00 AM, GM filed for section 363 Chapter 11 bankruptcy in the U.S. Bankruptcy Court in New York City. It is the fourth-largest bankruptcy in U.S. history based the company’s $91 billion in assets, and the largest of an industrial entity. (Submitted by ljdmd) More...
GM Cuts 1100 Dealers
gm-volt.com — GM has 15 days to meet a government deadline to successfully restructure or else enter bankruptcy. Today 1100 GM dealers will get their pink skips. This represents 18% of the total GM dealerships. Those getting letters will be told their contracts which expire in October 2010 shall not be renewed. (Submitted by ljdmd) More...
Court Approves Formation of New GM
gm-volt.com — Only 35 days after GM entered bankruptcy protection, a Manhattan judge issued a ruling allowing GM to sell its best assets to a government backed new company. The sale is expected to close by the end of the week, and the new GM will be free of debt, excess brands, and dealerships. (Submitted by ljdmd) More...
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