Welcome to General Motors, Soon to be Owned by You the Taxpayer

by Benjamin Domenech on 3:00 am May 20, 2009

“General Motors Corp’s (GM.N) 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.” The government would also set up the new board. Perhaps the only remaining question is: will the next GM CEO occupy a cabinet level position?

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