The Financial Times is reporting that if the restructuring plan, inclusive of revisions to accomodate objections, is approved next week, the ailing automaker General Motors could emerge from the bankruptcy, giving it around the same time as Chrysler to get out of Chapter 11 filing. The revised plan was filed with the SEC late Thursday.
From the FT:
GM is planning a campaign to persuade Americans that it is a nimbler company making vehicles worthy of their respect.
Several new directors will be appointed and Fritz Henderson, chief executive, has indicated that an extensive management shake-up is in the works.
Read the report HERE.