GM Files Voluntary Chapter 11; Agreements with US Treasury and Canada; New GM Expected in 60-90 Days
Green Car Congress
JUNE 1, 2009
Reduce GM’s total number of assembly, powertrain and stamping facilities in the US from 47 in 2008 to 34 by the end of 2010 and 33 by 2012. Reduce its dealers to approximately 3,600 from the current 5,969. Warrants granted to the New VEBA to acquire newly issued shares in the New GM equal to 2.5% Earlier post.)
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