General Motors May File For Chapter 11 Bankruptcy
In an article from MSNBC.com, while the Detroit Big three meet on Capitol Hill this week to discuss the $25 billion dollar bail out plan, it seems that General Motors may have a plan of their own- filing for Chapter 11 bankruptcy. Without any federal action or help, the weakening auto maker may be forced to file for bankruptcy as soon as the end of the year. Filing for chapter 11 would allow the auto giant to achieve bankruptcy protection and protect itself from creditors while they reorganize their company.
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