Search results
Results from the WOW.Com Content Network
On the March 30, 2009 deadline, President Barack Obama declined to provide financial aid to General Motors, and requested that General Motors produce credible plans, saying that the company's proposals had avoided tough decisions, and that Chapter 11 bankruptcy appeared the most promising way to reduce its debts, by allowing the courts to ...
Motors Liquidation Company (MLC), formerly General Motors Corporation, was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to ...
At that time, it was estimated that GM might require $30 billion more to emerge from bankruptcy. [6] By mid-July 2009, both companies had restructured and emerged from bankruptcy. The Task Force was scaled back from "day to day" involvement to periodic "monitoring". [3]
The bankruptcy of General Motors Corp. (GM) is almost as inevitable as the sun rising or the New York Mets collapsing in September. GM is going beyond an earlier plan to slash debt by 46 percent ...
So, it appears that the Obama administration is not going to force General Motors (GM) into bankruptcy next week after all. We will now find out the results of the automaker's restructuring on June 1.
Beats me, but now the word is that GM is well on its way to bankruptcy and the government (that's us, taxpayers) will have to kick in $77 billion to help Taxpayer money to help GM through ...
General Motors Company (GM) [2] is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. [3] The company is most known for owning and manufacturing four automobile brands: Chevrolet , Buick , GMC , and Cadillac , each a separate division of GM.
GM has warned that it would file for bankruptcy if there isn't a restructuring deal by Friday, as the Korean operation is running out of cash to pay employees and suppliers amid slumping sales.