STOCKBOX.tv - facebook ipo greece default euro crisis china downturn » gm chapter 11 http://www.stockbox.tv Wall Street Content for the Lazy Investment Gurus. Thu, 09 Feb 2012 00:32:58 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 GM Bankruptcy Update http://www.stockbox.tv/gm-bankruptcy-update/ http://www.stockbox.tv/gm-bankruptcy-update/#comments Thu, 28 May 2009 16:25:18 +0000 stockbox.tv http://www.stockbox.tv/?p=926 cnbc.com – GM said Thursday it reached a deal with some major bondholders that would give them a bigger stake in a reorganized automaker and could pave the way for a fast-track bankruptcy backed by the U.S. Treasury.

The announcement was the clearest indication yet that GM, the No. 1 U.S. automaker, is close to filing for bankruptcy under the direction of the Obama administration. It would be the biggest-ever bankruptcy for a U.S. industrial company.

GM bondholders committee confirms support of its revised GM offer, reports CNBC’s Michelle Caruso-Cabrera.

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