ASSOCIATED PRESS JULY 9, 2009 Updated 18 minutes ago.
NEW YORK - The new General Motors is about to roll off the assembly line as a leaner, greener model,
maybe even a profitable one, too.
Once the world’s largest and most powerful automaker, the troubled company was expected to emerge from bankruptcy protection by early Friday cleansed of massive debt and burdensome contracts that would have sunk it without federal loans.
The new company, 61 percent owned by the U.S. government
, will clear bankruptcy in record time to face a brutally competitive global automotive market in the middle of the worst sales slump in a quarter-century.