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http://news.yahoo.com/s/nm/20090214/bs_nm/us_gm_plan_1

CHICAGO (Reuters) - General Motors Corp, nearing a Tuesday deadline to present a viability plan to the U.S. government, is considering as one option a Chapter 11 bankruptcy filing that would create a new company, the Wall Street Journal said in its Saturday edition.
"One plan includes a Chapter 11 filing that would assemble all of GM's viable assets, including some U.S. brands and international operations, into a new company," the newspaper said. "The undesirable assets would be liquidated or sold under protection of a bankruptcy court. Contracts with bondholders, unions, dealers and suppliers would also be reworked.
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Love them of hate them, this will be a sad day for Domestic enthusiasts everywhere if this comes to pass.
 

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its well known to some that gm was only taking the money to stop a catatrophic failure to them when they found out they could screw the government instead and take the money, actually screwing us, and claim bankruptcy later. bush new it. the management at gm is a complete joke. scum and greed lead that company. the bottom line is only how much money the executives can put in the pockets, especially the ceo's, scumbags, but very very wealthy ones at that.
 
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