General Motors filed a request today for entry into bankruptcy in a court in New York.
GM bankruptcy, considered inevitable by the experts, was confirmed by President Barack Obama. It is the third largest bankruptcy in U.S. history and the largest in the industry. The decision to put GM in bankruptcy quickly and to offer further 30 billion U.S. dollars of taxpayers’ money to restructure the company in competition with Asian rivals, is a huge risk for Barack Obama. The more so as this bankruptcy (followed by the closure of 12 factories and the dismissal of over 20,000 employees) supplies “depression” of americans in the confrontation with economic and financial crisis.
gabrielaionita
June 15, 2009 at 7:44 pm
Did Gm deserve the bailout? You Ask me I would say NO.. why? When Honda and Toyota were out inventing new cars, GM was busy boasting about its pride and Showing off its hungry hungry Daughter the Hummer
June 15, 2009 at 7:44 pm
The Most important challenge GM faces is to win back the trust of the tax payers. Giving away billions of tax payer money is not going to go under good sights of the consumers
June 18, 2009 at 4:47 pm
Gm is going bankrupt because of its own tactics. 300 Million people have hard worked for that bailout and where is their bailout? There are families going bankrupt whose going to save them?
June 18, 2009 at 4:48 pm
So Finally where has the conclusion come to? GM is bankrupt, We are bankrupt and the average man is going nowhere in this struggle, I ask you guys today What did we gain out of this?