GM Declares Bankruptcy; Government To Have Majority Share General Motors has filed for bankruptcy as part of a government-led reorganization. The federal government will provide an additional $30 billion in aid — and will have a majority share in the company of 60%. The plan is for GM to emerge from the bankruptcy within 60-90 days with a smaller work force, fewer plants and a reduced number of dealerships.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=142199