Monday, June 1, 2009

GM files for Chapter 11 protection


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Financial Times
Breaking news
Monday June 01 2009

Breaking News
 
GM files for Chapter 11 protection
General Motors filed for Chapter 11 bankruptcy protection in New York on Monday morning in a humiliating fall from grace for a symbol of America's industrial might and the world's biggest carmaker for much of the 20th century.

Over the next few hours, President Barack Obama and GM's chief executive Fritz Henderson will seek to reassure workers, suppliers, dealers and car buyers that a leaner, reinvigorated GM will emerge quickly from a court-supervised restructuring.
http://link.ft.com/r/BLH300/O5Z0C/CX3RG/L2M68/WQMXR/VU/h
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