General Motors, a longtime cornerstone of American industrial power, filed for bankruptcy protection Monday morning and embarked on a broad restructuring, paving the way for the struggling automaker to receive another $30 billion in taxpayer aid.
In other news, General Motors neared a deadline to submit a restructuring plan and markets rose at the close of the week on Wall Street.
As GM moves closer to a reorganization plan, UAW President Ron Gettelfinger gives the union's perspective on the recent plans to boost the struggling auto industry.
As a bankruptcy deadline looms for General Motors, major bondholders agreed to a deal that offers them a 25 percent stake in the company if they drop opposition to the company's reorganization plan. A reporter explains the negotiations.
By Admin, PBS NewsHour
General Motors said Thursday that a group of bondholders has accepted a sweetened deal that offers them up to a one-quarter stake in the company if they drop opposition to the struggling automaker's plans to reorganize.
After the rejection of General Motors' offer to trade bond debt for company stock, analysts consider what a GM bankruptcy says about the company and the auto industry generally.
By PBS NewsHour
An offer by General Motors to its bondholders to trade bond debt for company stock fell through just days before the company must submit a government-ordered restructuring plan.
Kwame Holman provides an update on reports that General Motors is likely to file for bankruptcy and that Chrysler is looking to conclude its bankruptcy proceedings.
Paul Solman: Yesterday, free-market enthusiast Megan McArdle, who describes herself as “the tallest female econoblogger” but is more often identified in the blogosphere as a libertarian, devoted a post on theAtlantic.com to Ed Andrews, the…
Columnists Mark Shields and David Brooks discuss the impact of President Obama and former Vice President Cheney's security policy speeches and the buildup to the president's announcement of a Supreme Court pick.
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