BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[General Motors' sale plan approved -- is it worth it?]]>http://www.bloggingstocks.com/2009/07/06/general-motors-sale-plan-approved-is-it-worth-it/http://www.bloggingstocks.com/2009/07/06/general-motors-sale-plan-approved-is-it-worth-it/http://www.bloggingstocks.com/2009/07/06/general-motors-sale-plan-approved-is-it-worth-it/#commentsFiled under:

Reportedly, a bankruptcy judge has given General Motors (OTC: GMGMQ) the okay to sell a majority of its assets to a new company. This move could open the path for General Motors to "quickly emerge from bankruptcy protection," the AP wrote. U.S. Judge Robert Gerber said in his ruling late Sunday that the sale "was in the best interests of both GM and its creditors," who would get nothing otherwise.

In his ruling, Gerber wrote, "As nobody can seriously dispute, the only alternative to an immediate sale is liquidation - a disastrous result for GM's creditors, its employees, the suppliers who depend on GM for their own existence, and the communities in which GM operates."

Continue reading General Motors' sale plan approved -- is it worth it?

General Motors' sale plan approved -- is it worth it? originally appeared on BloggingStocks on Mon, 06 Jul 2009 09:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>automaker bankruptcyAutomakerBankruptcyautomakersbankruptcyGMgmgmqinthenewsunionsMon, 06 Jul 2009 09:50:00 EST