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G.M. Files for Bankruptcy
nytimes.com - 6/1/2009
G.M. Files for Bankruptcy
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President Obama, with auto representatives and cabinet members behind him at the White House, speaking about the bankruptcy plan for General Motors.
For G.M., a Step Toward Bankruptcy and a New Start
nytimes.com - 6/1/2009
For G.M., a Step Toward Bankruptcy and a New Start
— nytimes.com — The headquarters of General Motors in Detroit in December.... (more) For G.M., a Step Toward Bankruptcy and a New Start

Comments vote down The Page by Mark Halperin found this 6/1/2009found this
online.wsj.com - 6/2/2009
Busy Not Running GM
— online.wsj.com — President Obama announced the bankruptcy of General Motors yesterday before GM's CEO even spoke, and the feds... will soon own 60% of the company. But whatever you do, please don't think the government is now running GM. "What we are not doing -- what I ... (more) Busy Not Running GM

Comments vote down Townhall.com Blog's TownHall Blog found this 6/2/2009found this
The End of GM As We Know It
blogs.tnr.com - 6/1/2009
The End of GM As We Know It
— blogs.tnr.com — It's been clear for a while now that General Motors, like Chrysler before it, was headed for... bankruptcy. But it's still a huge development. And, at least from the perspective of history, it's still a little stunning. GM was the symbol of American ... (more) The End of GM As We Know It

Comments vote down TPMCafe found this 6/1/2009found this

Blog Reactions

News:  G.M. files for Chapter 11

Think Progress:  ThinkFast: June 1, 2009

Shakesville:  Read These Now and Meet Your New Ant Overlords

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G.M. files for Chapter 11
News — G.M. files for Chapter 11 Forced by President Obama, General Motors filed for Chapter 11 bankruptcy Monday morning. G.M., once the country's automotive giant, will be nationalized as the government will invest upwards of $30 billion in the company in an effort to make it profitable again. The filing comes 60 days after Obama gave the company that time span to make significant restructuring efforts to make the company viable. G.M.'s filing, which can be found on the Wall Street Journal's website here, is already dominating the news cycle this morning (see here , here and here ). Stay tuned for more coverage and ...

ThinkFast: June 1, 2009
Think Progress — ... General Motors filed for bankruptcy this morning, and now “American taxpayers will invest an additional $30 billion in the company, atop $20 billion already spent.” GM will be firing 21,000 union workers and closing 12 to 20 factories, and “the workers’ union will be forced to finance half of its $20 billion health care fund with stock of uncertain value.” ...

Read These Now and Meet Your New Ant Overlords
Shakesville — No babble from me today. I have a serious case of the dumz. Air France plane missing. (Speigel) GM: bankrupt and another $30 billion from taxpayers. (NY) Chrysler sale to Fiat gets court approval. (WP) Biggest U.S. Chapter 11 cases. Sweden appoints lesbian bishop. (Pink) The continued brilliance of the Pope. (AP) O'Reilly's campaign against murdered doctor, George Tiller. (Salon) "The Christian Anti-Defamation Commission will not allow pro-abortionists or their accomplices in the media to exploit the ...

$172 Billion
Hoffmania! — ... That's how much GM says it owes in its historic bankruptcy filing this morning. How does a corporation run up that kind of debt and still insist on manufacturing dinosaurs like Hummers, Saturns and Buicks? ...

GM went bankrupt: So now what do we do about Detroit?
BuzzFlash.org - Progressive News and Commentary with an Attitude | Fight Ignorance: Read BuzzFlash — The GM headquarters (right) loom large on the Detroit skyline literally and figuratively. If GM can't bounce back, it may bring the Detroit area down with it. A BUZZFLASH NEWS ANALYSIS by Chad Rubel So what do we do now about Detroit, General Motors, and the auto economy? Yes, General Motors declared bankruptcy earlier this morning, throwing out yet more GM workers, endangering their pensions, and throwing a major sector of the U.S. economy into flux. This isn't just about GM. In today's ...

The End of GM
Balloon Juice — Some jaw-dropping numbers in this report: Calling the federal government a reluctant shareholder, President Obama on Monday characterized the bankruptcy filing of General Motors as necessary to assure that the company remained a viable part of America in the years ahead. President Obama said that the government had agreed to support G.M.’s reorganization because executives had worked tirelessly to produce a plan that met his demand for a leaner company focused on fuel-efficient vehicles. ...

Monday's Mini-Report
Political Animal — MONDAY'S MINI-REPORT.... Today's edition of quick hits: * GM bankruptcy : "President Obama and automotive executives spoke of reinvention, restructuring and a leaner, stronger 'new General Motors' on Monday as they laid out their visions for one of the country's most iconic companies." * The outlook ...

The 'New GM': Layoffs, Factory Closing, and Offshoring
Commondreams.org Views — The trouble with the whole "Nixon goes to China" theory -- which is grounded in the calculus that big progress is made when a politician goes against type to address a seemingly intractable challenge -- is that sometimes the "bold" gesture is really just more of the same. This is an important reality to recognize as the major media in the United States begins to play up the reshaping of General Motors by the Obama administration's auto-industry task force as a courageous or groundbreaking "new" initiative to "save" domestic automaking. It's not. The GM bankruptcy and bailout is the continuation of post-industrial policies of the Clinton and Bush ...

Obama "Upbeat" About GM. And the Middle East Peace Process.
Hit & Run — President Barack Obama, according to a headline in The New York Times, is "Upbeat for G.M.'s Future." That seems a bit, well, wacky. But then, this is the same guy who is "upbeat" about the Middle East peace process, according to AFP. So that puts the remark in perspective, I suppose. After all, as Justice-to-be Sonia Sotomayor now knows, context is everything. Over at Out of Control, the Reason Foundation's Shikha Dalmia, with some entertaining snippiness followed by good economic analysis of G.M.'s ...

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G.M. Files for Bankruptcy
nytimes.com 6/1/2009 — President Obama discussed the G.M. bankruptcy on Monday at the White House.
A Quick Bankruptcy for GM?
meganmcardle.theatlantic.com 4/14/2009 — I'm struggling to understand how the government thinks that it can get GM in and out of bankruptcy in the blink of an eye.  In a "prepackaged" bankruptcy, where there's substantial agreement among the parties, that may be possible.  But ...
Obama’s new GM CEO: You know, bankruptcy looks really good now
hotair.com 3/31/2009 — Read this post »
GM Declares Bankruptcy
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The Bankruptcy of GM
delong.typepad.com 11/14/2008 — We don't like to let financial firms go bankrupt because bankruptcy shuts down their business. Buying and selling financial assets is what they do, and bankruptcy requires that financial claims be largely frozen while the court sorts it out. By ...
GM Bankruptcy Would Be Most Complicated In History
huffingtonpost.com 5/26/2009 — It is not just lawyers who will be busy handling a G.M. bankruptcy filing, which would be perhaps the biggest and most-watched in legal history. Because of its size and scope, the bankruptcy would be the most complicated that any American company has gone through -- more complex than those of ...
Preparing for the Inevitable? (GM and Bankruptcy)
poliblogger.com 4/13/2009 — Via the NYT : Treasury Is Said to Warn G.M. of Bankruptcy Risk The goal is to prepare for a fast “surgical” bankruptcy, the people who had been briefed on the plans said. G.M., which has been granted $13.4 billion in federal aid, insists that a ...
US Government to Buy GM if it Declares Bankruptcy
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General Motors files for bankruptcy protection - Yahoo! Finance
finance.yahoo.com 6/1/2009 — NEW YORK (AP) -- General Motors entered Chapter 11 bankruptcy protection Monday with a near-complete plan to quickly emerge and potentially become profitable again, having already nailed down deals with its union and bondholders and arranged to sell ...
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corner.nationalreview.com 11/13/2008 — What would it mean to have GM go bankrupt? A change in ownership and a renegotiation of contracts. The factories, computers, office space, intellectual property and so forth that are now owned by GM would not disappear; they would basically become ...
POLITICAL HOT TOPICS: June 01, 2009 — CNN Political Ticker 6/1/2009
The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. WASHINGTON/POLITICAL For the latest political news: www.CNNPolitics.com. CNNMoney: GM to head into bankruptcy General Motors, the ...
GM to file for bankruptcy — CNN.com - Politics 6/1/2009
General Motors, the nation's largest automaker and for decades an icon of American manufacturing, stood on the brink of a bankruptcy filing and a de facto government takeover on Monday.
Commentary: What bankruptcy could do for GM — CNN.com - Politics 6/1/2009
The screams produced by the Chrysler bankruptcy are nothing compared with the howling that will accompany General Motors' expected bankruptcy filing as various creditors claim that the case is going too fast and their rights are being trampled.  ...
CNNMoney: GM files for bankruptcy — CNN Political Ticker 6/1/2009
NEW YORK (CNNMoney.com) — General Motors filed for bankruptcy protection early Monday, a move once viewed as unthinkable but became inevitable after years of losses and market share declines that were capped by a dramatic plunge in sales in ...
GM files for bankruptcy — CNN.com - Politics 6/1/2009
General Motors filed for bankruptcy protection early Monday, a move once viewed as unthinkable but became inevitable after years of losses and market share declines that were capped by a dramatic plunge in sales in recent months.