01 Jun, 2009
GM bankruptcy filed this morning. Factories will remain open.
Posted by: admin In: Main ()
At 6AM this morning, GM has filed for Ch. 11 bankruptcy. Fritz Henderson will stay on as GM chief and Al Koch, the managing director of AlixPartners, the firm which oversaw the Ch. 11 reorganization of K-Mart, has been given the responsibility of managing GM’s bankruptcy reorganization.
A silver lining to this news however, is that unlike the Chrysler bankruptcy, GM’s factories are expected to remain open and that means the 2010 Camaro will continue being built while the company works its way towards emerging from reorganization. Here is a short segment by ABC News on this matter.
Read more on this story at the following LINK
Tags: bankruptcy, gm bankruptcy
