GM Bankruptcy Fears

DETROIT (AP) - General Motors' top executive says bankruptcy is becoming more probable but there is still hope that the company can restructure and avoid court protection.

CEO Fritz Henderson says the automaker is looking at its operations country-by-country to determine where it might have file for bankruptcy. He says a U.S. bankruptcy doesn't necessarily mean that GM would file in other locations.

Henderson told reporters on a conference call Monday that the company would still prefer to avoid bankruptcy but he realizes the tasks it must accomplish are large.

General Motors Corp. is living on $15.4 billion in federal loans and faces a June 1 government deadline to restructure or seek Chapter 11 bankruptcy protection.

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[RickStylus]

electric car? don't you know that GM had EV-1 (Electric Vehicle) around twenty years ago? it was just a bluff though. Main GM problems are related to lack of technology, usage of cheap materials (unlike competitors) and a very poor quality: most of its cars are only... shinny garbage. IMAO

[valdi9165]

I could care less if they went out of business in the US altogether. GM cars are the worst quality I think. I own some Newer GM products and constantly having something break or it is at the shop. Will never buy GM garbage again. I will not consider a foreign car/truck as I have had problems with these as well. Im thinking maybe a Fix Or Repair Daily?

[Elvensteel0]

Global Economic Alert

US Public Washington Wall Street Main Street Dont let GM go Bankrupt on Monday 1st June 2009

On the bloomberg cable television channel around 2003 an economic adviser quite siply said GM - General motors cannot compete with rivals due its generous pension scheme which will bankrupt it.

This points to the question of why the US government didnt just rescue GM's pension plan?

Shareholders have a right to this Answer before bankrupcy is DONE!!!!!!!!!!!!!!!!

[emforty2]

if GM had an electric car they would not be in bankruptcy

their fault and no one else