GM Files Voluntary Chapter 11; Agreements with US Treasury and Canada; New GM Expected in 60-90 Days
Green Car Congress
JUNE 1, 2009
General Motors Corp. reached agreements with the US Treasury and the governments of Canada and Ontario for the creation of a smaller, self-sustaining “New GM”. The New GM will incorporate only the “best brands” and operations, and benefit from shedding much of the older debt burden and operating cost structure.
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