GM may file for Bankruptcy Protection!

Wednesday 28th December, 2005
I just caught an interesting article on the Fox News website which highlights financial problems at General Motors.

"General Motors Corp. (GM) lost nearly $5 billion in its North American automotive business in the first nine months of 2005, and speculation has mounted among investors that the auto maker may eventually be forced to file for Chapter 11 protection."

In another article:

"Shares of General Motors Corp. (GM) fell to an 18-year low Tuesday after Toyota Motor Corp. (TM) unveiled production plans for 2006 that increased fears that it will topple GM as the world's largest automaker"

Ouch!

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Posted in:  General  at 14:14:14