The bankruptcy is part of a plan that President Obama will outline on Monday morning to drastically shrink the automaker while keeping it competitive.
Tagged automaker, automaker-while, automobiles, bankruptcies, keeping-it-competitive, monday, outline-on-monday, president, president-obama, shrink-the-automaker, subprime mortgage crisis, will-outlineWith the clock ticking on a June 1 government deadline to restructure, General Motors Corp. worked feverishly Sunday to shore up its global businesses to clear the way for a speedy reorganization in bankruptcy court.
Tagged clear-the-way, clock, general-motors, government-deadline, its-global, national news, speedy-reorganization, sunday, the-clock, worked-feverishlyGeneral Motors, the nation’s largest automaker and for decades an icon of American manufacturing, stood Sunday on the brink of bankruptcy and an effective government takeover.
Tagged brink, effective-government, general-motors, largest-automaker, motors, nation, sunday, the-brink, the-nationA new GM emerges as bankruptcy is near.
Tagged emerges-as-bankruptcyWall Street will return for the first trading day of a new month Monday with the economic outlook still unclear and the bankruptcy of a major American business icon looming large.
Tagged bankruptcy, business-icon, economic, economic-outlook, first-trading, monday, new-month, still-unclear, street, will-returnOnce the bankruptcy process at General Motors plays itself out, what will the company be worth?
Tagged bankruptcy, general-motors, once-the-bankruptcy, plays-itself, process-at-general, the-bankruptcyGeneral Motors, with bankruptcy looming, pledged Friday to build a small car in the United States in an idled car plant that will be revamped.
Tagged friday, general-motors, idled-car, motors, small-car, united, united-statesThe United Auto Workers union Friday overwhelmingly ratified a labor deal with General Motors that included concessions, but is not enough to keep the company out of bankruptcy.
Tagged friday, general-motors, labor-deal, motors, small-car, united, united-auto, united-states, workersWith General Motors poised to enter Chapter 11 reorganization, the question arises: What will the bankrupt company look like and how will it be different?
Tagged chapter, friday, general-motors, united-auto, united-states, will-the-bankrupt, workersGeneral Motors’ stock price plunged below $1 a share in Friday trading, reaching its lowest level since the Great Depression, as investors anticipated a bankruptcy filing by the beleaguered automaker.
Tagged bankruptcy-filing, friday, general-motors, lowest-level, reaching-its, since-the-great, the-beleaguered, united-auto, workers