On Monday, multiple reports indicate that President Barack Obama will announce that he will support General Motors restructuring effort as the United States automobile maker goes through its bankruptcy proceedings. He’s also reportedly going to announce that the nation’s taxpayers will own 60% of GM once it emerges from bankruptcy.
To help GM emerge from bankruptcy in less than 90 days and be prepared to turn itself around, Obama is expected to announce that GM will be infused with $30 billion. That latest infusion will climb the amount invested in General Motors to around $50 billion.
To survive in the competitive automobile …read more

While there are many opinions regarding when and if General Motors will file bankruptcy, more and more of those opinions are now asking “when” rather than “if”. According to multiple sources, General Motors’ bankruptcy filing could happen in a matter of days.
Considering that the federal government has given GM a deadline of June 1st to find a suitable solution for all of their creditors and considering that GM’s creditors are far from happy, the writing appears to be on the wall. If the filing for bankruptcy doesn’t occur at the end of this week, it very well could take place …read more

On Friday, General Motors stock reached a low of $1.27. According to University of Chicago research, GM stock hasn’t been that low since 1933. By the end of the trading day, GM had recovered slightly to finish the week at $1.45.
The bounce back could very well be temporary because of fear that GM could file for bankruptcy in the coming months. Despite receiving nearly $15 billion for the United States federal government, the Detroit based company continues to lose money at an alarming rate. In 2008, GM reportedly lost more than $30 billion.
Although the company says that there is no …read more