GM could emerge from Chapter 11 by next week

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.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s