GM in 'Intense' Planning for Bankruptcy

Firm could be split into 'old' and 'new' companies: insiders
By Matt Cantor,  Newser Staff
Posted Apr 7, 2009 1:10 PM CDT
GM in 'Intense' Planning for Bankruptcy
Exterior view of General Motors' world headquarters in Detroit, March 30, 2009.    (AP Photo)

General Motors is making “intense” and “earnest” preparations for the possibility of bankruptcy, a source tells Reuters today. The firm could be divided into a “new” and “old” GM, another insider said: The new company would be home to the firm’s healthiest units and take on some debt from bankruptcy, while the old company would house GM’s less-successful units. (Read more General Motors stories.)

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