Tuesday, November 2, 2010

GM files for bankruptcy protection - Pittsburgh Business Times:

http://bath-linen.com/all-that-you-wanted-to-learn-about-granite.html
Chevrolet-Saturn of Harlem a New York-based affiliated of the Detroit was the first GM affiliate to seek bankruptcy protectionh Monday morning throughthe U.S. Bankrutpcy Court's Southern District of New York, accordinvg to court records. The restructuring will enablse GM to emerge as a viable entity undetr the brand namenew GM. It also will give the federa government, which plans to make availableabout $30 billioj of federal assistance to support the a large ownership stakr in the company. Two area companieas were among the list of creditorsin GM's New York-based Bank of New York Mellon, with claimx of $176 million, and Downtown-based US with claims of $9.6 million.
For a list of creditors, see GM'd . According to a release from the White the company plans to announcde today that it will close 11 facilitiesd and idleanother three. GM had already announcerd in May .

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