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Old 06-01-2009, 09:01 PM   #1
wifeofcore is on a distinguished road
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Default General Motors, Saturn LLC, and Saturn Distribution Corporation All File for Bankrupt

A new story entry has been added:

[drupal=3105]General Motors, Saturn LLC, and Saturn Distribution Corporation All File for Bankruptcy Protection[/drupal]

As expected, GM filed for bankruptcy protection this morning in a New York based Bankruptcy Court. Fritz Henderson, GM's CEO, told reporters that "Our agreement with the U.S. Treasury and the governments of Canada and Ontario will create a leaner, quicker more customer-and completely product-focused company, one that's more cost competitive and has a competitive balance sheet. This new GM will be built from the strongest parts of our business, including our best brands and products."
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Old 06-01-2009, 10:51 PM   #2
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John10 will become famous soon enoughJohn10 will become famous soon enough
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Default Re: General Motors, Saturn LLC, and Saturn Distribution Corporation All File for Bank

The full story attached to this is a very good summary of a complex series of happenings. Now we can finally see if the previously reported interest in Saturn is legitimate and how this will all play out.
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