General Motors stock hit by bankruptcy report

Posted on April 13th, 2009 by In51der in Manufacturers, News

BBC News reports that US car maker General Motors has seen its shares fall sharply after a report that the US government wants the firm to start bankruptcy proceedings by 1 June. The New York Times said the Treasury Department wants a court-led reorganisation, but the firm wants to reorganise without going to court.

Shares in the firm were 16% lower at $1.71 in afternoon trade in New York. Full story…

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