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IPFS News Link • Economy - Economics USA

GM in "intense" preparations for bankruptcy

• Reuters
If the plan goes through, the new GM would be expected to assume some previous creditor debt from bankruptcy proceedings, such as secured debt, said the second source, adding that GM bondholders were likely to lose substantial value in bankruptcy.

2 Comments in Response to

Comment by Brock Lorber
Entered on:
In other news, GM announced a partnership today with the makers of the Segway for the PUMA.

That would indicate a future for a company beyond bankruptcy. Odd. Why didn't GWB or BHO, our great and wonderful leaders, think of that?

Comment by Rich Ness
Entered on:

about damn time.