GM BANKRUPTCY FILING NOW CERTAIN FOR MONDAY JUNE 1, 2009
By Daniel at 28 May, 2009, 10:00 pm
“GM Said to Plan June 1 Bankruptcy” By Jeff Green and Mike Ramsey
“(Bloomberg) — General Motors Corp., the world’s largest automaker until its 77-year reign ended in 2008, plans to file for bankruptcy protection on June 1 and sell most of its assets to a new company, people familiar with the matter said.
The people familiar with GM’s plans didn’t specify where the automaker might make its Chapter 11 filing. They asked not to be identified because the details aren’t public.
Vice Chairman Bob Lutz, while not confirming GM’s intentions or a possible bankruptcy venue, said any court restructuring would be quick.”
The full article is at:
http://www.bloomberg.com/apps/news?pid=20601103&sid=a7i7hg48BfNY&refer=us
TOMORROW IS THE LAST TRADING DAY TO BAIL ON THE STOCK BEFORE IT BECOMES TOTALLY WORTHLESS.
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