GM in "intense" preparations for bankruptcy
• ReutersIf the plan goes through, the new GM would be expected to assume some previous creditor debt from bankruptcy proceedings, such as secured debt, said the second source, adding that GM bondholders were likely to lose substantial value in bankruptcy.
about damn time.
That would indicate a future for a company beyond bankruptcy. Odd. Why didn't GWB or BHO, our great and wonderful leaders, think of that?