While the government and new GM CEO Fritz Henderson hinted that bankruptcy might be a possibility for the American car company, bankruptcy experts disagreed that a bankruptcy, even a quick one, could bring GM to profitability.
If customers are scared away by a bankrtupcy, GM would have little hope of survival. A bankruptcy judge could rid [...]
Archive for March, 2009
Will Bankruptcy Create Successful GM?
March 31st, 2009
Published in
GM Bailout
Tags: GM Bailout, GM bankruptcy
Obama Ousts GM CEO
March 30th, 2009
The Obama administration, as part of its oversight of GM due to the company’s $13.4 billion bailout taken in December, has asked and received the resignation of the company’s CEO Rick Wagoner. Forbes terms the move “Orwellian.” Forbes mentions that Ford Motor Co. is no doubt delighted that they did not go down the road [...]
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Ford bailout, GM Bailout
GM Chief Asks for Supplier Assistance
March 18th, 2009
General Motors CEO Rick Wagoner asked the federal government to help assist its auto parts suppliers, which are on shaky ground and would be even more so if GM files for bankruptcy.
Published in
GM Bailout