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What if GM goes broke?
Neither a bailout nor bankruptcy may save General Motors or the other Detroit automakers. So imagine the cost of losing GM, starting with millions of jobs. By Michael Brush The downfall of Wall Street icons like Bear Stearns and Lehman Bros.GM Is Becoming a Royal Debacle
GM Is Becoming a Royal Debacle By HOLMAN W. JENKINS, JR. It's good to be the king -- until you start tripping over your own robe.GM Files for Bankruptcy
- A once proud and dominant General Motors, which at its peak controlled half the American auto market, filed for bankruptcy court protection on June 1 in an historic act that will see federal taxpayers own 60% of a smaller, reorganized company. - With the bankruptcy, GM will get a chance at a new start. Management and its government overseers hope GM can wipe away decades of outsized retiree and labor costs and brand-and-marketing strategy, both of which were designed for an era that had long passed.GM Wins, Loses in Stimulus Pact While Homebuilders Get Less Aid
Feb. 12 (Bloomberg) -- General Motors Corp. emerged as both a winner and loser in the $789 billion economic stimulus package that lawmakers agreed to after ironing out differences between competing House and Senate versions.GM Bankruptcy Probable as Obama Shields UAW Benefits
- General Motors Corp. may be more likely to end up in bankruptcy based on the Obama administration’s willingness to place Chrysler LLC into court protection to safeguard union health-care benefits. - “This confirms the fear, which right along has been that the Obama administration is more sensitive or beholden to the unions than the bondholders,” Fridson said.Caterpillar, GM, Pfizer, Home Depot and Sprint cutting thousands
msnbc.com staff and news service reports updated 10:30 a.m. CT, Mon., Jan. 26, 2009 PEORIA, Ill.Obama Aides' Mission to WaPo: FAIL!
Obama Aides' Mission to WaPo: FAIL! Krausfiles (Slate) "Shooting Distance": Some unnamed administration officials (rhymes with Shatner!) recently visited the WaPo ed board to sell the GM bailout deal. They were less than fully successful, to judge by the Post's latest editorial--at least once you get past the third paragraph.The Big 3
***PUBLIC POST*** Ford tells Congress it may be able to go it alone By JULIE HIRSCHFELD DAVIS and TOM KRISHER, Associated Press Writers WASHINGTON – Humbled and fighting for survival, Detroit's once-mighty automakers appealed to Congress with a retooled case for a huge bailout Tuesday, pledging to slash workers, car lines and executive pay in return for a federal lifeline. GM said it wouldn't last till New Year's without an immediate $4 billion and could drag the entire industry down if it fails. General Motors Corp., asking for as much as $18 billion to keep afloat and survive even worse economic storms, painted the direst portrait to date of what could happen if Congress doesn't quickly step in.BREAKING: AP source: GM to sell Hummer to Chinese company
PUBLIC POST * This has to be a great move for national security. I'm staggered at how short-sighted so many of the actions taking since January have been. DETROIT (AP) - General Motors Corp.GM secures US bankruptcy deal
May 28 10:25 AM US/Eastern www.breitbart.com/article.php?id=CNG.555314bd92016b64215def4878d1d7c8.b41&show_article=1&catnum=0 Fallen US auto giant General Motors pulled back from the brink Thursday, winning government and bondholder support for a new restructuring plan while Chrysler waited for a court to decide its future. GM, kept afloat so far with 19 billion dollars in US taxpayer money, had been facing a deadline on Monday to come up with an agreed reorganization and looked to be in serious trouble when bondholders balked earlier this week. But on Thursday, it said a new plan, this time endorsed by bondholders, would see the government hold a 72.5 percent stake in return for possibly more than 50 billion dollars of fresh funding.
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