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Americans to own GM

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posted on May, 20 2009 @ 11:53 AM
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General Motors Corp's plan for a bankruptcy filing involves a quick sale of the company's healthy assets to a new company initially owned by the U.S. government, a source familiar with the situation said on Tuesday.



The remaining assets of GM would stay in bankruptcy protection to satisfy other outstanding claims.



The government has given GM until June 1 to restructure its operations to lower its debt burden and employee costs.


www.reuters.com...




 
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