Friday, May 29, 2009
No one wants your garbage..........
The title may be frightening but it shouldn’t come as too much of a surprise. GM’s financial position has been declining for years and despite all efforts to avoid it, a court-mediated process appears to have nearly no alternative. According to Bloomberg, citing persons familiar with the matter, 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. If it occurs, this would be the fourth largest bankruptcy in US history and the largest for an industrial company...Link
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