GM Bankruptcy Filings Meet with Skepticism

Posted by Shu Zheng

DETROIT — General Motors (GM) may be inching toward bankruptcy court, but the theory that GM could get through the process quickly faces increasing skepticism.

On Friday, Fritz Henderson said he came into his new position as GM's CEO three weeks ago believing a bankruptcy filing was more probable than not.

"I feel the same way today," he says. Henderson said GM is working on two scenarios: one that involves bankruptcy and one that doesn't. The plan that does not includes looking at each GM brand to see if it's needed. USA TODAY reported Thursday that dropping Pontiac and GMC was being looked at, along with Hummer, Saab and Saturn, which are already on the block.

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GM Should Run To Bankruptcy

Posted By: Asim Mohammed
After the developments of this week, if there is any intelligent life left at General Motors, it should run--not walk--to bankruptcy court. That may be the company's only chance to free itself from the triple-vise of unions, creditors and now President Barack Obama--who is by no means the least life-threatening of the lot.


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Save GM or let it file for Bankruptcy?

Posted by Amina Isakovic

Written by John Letzing

General Motors Corp. will offer the government the choice of giving it billions more in bailout money or seeing it file for bankruptcy when it presents a restructuring plan next week, according to a report published Saturday.

The online edition of The Wall Street Journal, citing unnamed sources, said the competing choices present a dilemma for the Obama administration, which may fear seeing the industrial icon carmaker (GM: 2.50-0.15-5.66%)fall into bankruptcy and cut more jobs if it's refused more aid.

The government has already committed $13.4 billion to GM as part of a federally-funded bailout. The automaker is expected to include its call for more funds in a restructuring plan it's required to submit to the Treasury Department by Tuesday, though the company isn't expected to include a dollar amount, according to the Wall Street Journal report.

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