Posted by: Thomas Gillick
By Jack R. Nerad
The events of the past week have been unprecedented in the auto industry and in the annals of American business.
As the events have unfolded, there is the strong implication from the administration's automotive task force that Chapter 11 bankruptcy, followed by restructuring and "cleansing" of General Motors' balance sheet, is a potential scenario in the ongoing efforts to keep the giant automaker alive.
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