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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 ...
The value of that stock, options and pension has been lost in the bankruptcy restructuring that Congress approved for GM. GM sent letters to tens of thousands of their dealers, supplier executives, employees and union members, asking recipients to call and write Congress with several "talking points" about the potential effects of a GM bankruptcy.
As part of its high-speed trip through bankruptcy in 2009, General Motors got a series of loans from the U.S. government -- $49.5 billion worth. GM has since paid the loans back with a mix of cash ...
After adding an economic crisis to a financially unhealthy automaker, General Motors looked ready for collapse near the beginning of 2009. In response to the potential damage GM's collapse would ...
Can General Motors (NYS: GM) be saved? In many ways, it seems like a ridiculous thing to ask. GM sold more cars than any other automaker last year, while generating record profits. GM's debt is ...
In addition, stock prices fell as shareholders worried about bankruptcy; GM's shares fell below 1946 levels. Furthermore, the instability of the job market and individual consumers' finances discourages consumers who already have a working vehicle from taking on a new loan and payments, which affected almost all major manufacturers.
Is it time for the U.S. Treasury to dump its stake in General Motors (NYS: GM) ? It is -- if you listen to former GM CEO Ed Whitacre. In an opinion article that appeared in Thursday's Wall Street ...