GM to File for Bankruptcy on Monday
Bloomberg is reporting that General Motors will join Chrysler in filing for Chapter 11 bankruptcy on Monday. The move is widely expected, but the news agency is adding a bit of flesh to the story, suggesting that what promises to be the third-largest bankruptcy in U.S. history (after Lehman Bros. and Worldcom) will indeed result in the sale of most of the automaker's assets to a new company (likely the oft-discussed "Good GM"). GM's worldwide assets have been reported to be $91 billion against a total liability of $176.4 billion as of December 31.
A suggested location of the possible bankruptcy filing has not been disclosed.
More info here
By @Corentin
Comment
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Comment by nivada on May 31, 2009 at 12:30am - let me borrow a car
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Comment by yungtwun on May 30, 2009 at 1:53pm - wtf, and again wtf. is anybody seeing whats going on. we just gave these muthafuckas money. and now they filing for bankruptcy. what type of shit is that. so is they gone give the money back, hell naw. the fact of the matter is they all work together, the government and the big corporations, ran by the same elite assholes(see illuminati). we've been pimped no questions asked. smh
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Comment by HOEYUNO on May 30, 2009 at 12:26pm - The economy is fucked....try looking for a job in these times
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Comment by osixx on May 30, 2009 at 11:11am - damn
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Comment by Patrick on May 30, 2009 at 8:29am - Shoot this the best time to buy a GM brand vehicle just wait as soon as the bankruptcy is official your gonna see all them vehicles under the GM brand, Chevy,GMC, Cadillac etc drop in there prices.... So stack your bread and just wait..
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Comment by G-Unit How It Really Goes on May 30, 2009 at 3:26am - i hope GM (cadillac, chevrolet & GMC) can be the same after all this
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Comment by J.B-well aka PLAYER 2 on May 30, 2009 at 2:48am - Dang... dont say Caddillac is next.
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Comment by Junior on May 29, 2009 at 11:35pm - This should of been done in the first place. What was the point of bailing them out?? What a waste of taxpayer money.
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Comment by Reality-Is-Crucial on May 29, 2009 at 10:58pm
- home team, thats what it is... http://www.youtube.com/watch?v=uls3cgU09NI
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Comment by mLOProductions on May 29, 2009 at 10:26pm - My Ford Focus kicks ass!
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