Retrieved on July 15, 2009.
"Corporate Bankruptcy: What Investors Need to Know: When debts outweigh assets, as with GM and Chrysler, protection can help businesses reorganize or liquidate.
USA today, Government sells last of its GM shares, December 10, 2013 "U.S.Dow Jones Industrial Average and replaced by, cisco Systems.Shares Go Out on a Low Note".To see all exchange delays and terms of use, please see disclaimer."Bush Aids Detroit, but Hard Choices Wait for Obama".Retrieved November 24, 2009.55 "We're obviously very disappointed with the decision to pull out of the Saab purchase said GM CEO Fritz Henderson in a statement.14 A new entity with the backing of the United States Treasury was formed to acquire profitable assets, under section 363 of the Bankruptcy Code, with the new company planning to issue an initial public offering (IPO) of stock in 2010.Vehicle Acquisition Holdings LLC then changed its name to "General Motors Company".29 On May 31, 2009 news broke that the.S.
For fiscal year 2007, GM's losses for the year were US38.7 billion, 18 and sales for the following year dropped.James Quinn (June 1, 2009).This process is typical of large organizations with complex branding and intellectual property rights issues upon exiting bankruptcy."General Motors' Workforce what channel is the lotto Faces Big Cuts at an 'Unadulterated Speed."How a 'Section 363' sale creates a new GM"."With Sale of Good Assets,.M.2, the company received 33 billion in debtor-in-possession financing to complete the process.
13 The chapter 11 petition was filed in the federal court in Manhattan, New York.