GM to reorganize in government- led bankruptcy

1. This article is about a GM dealership in New York filed for bankruptcy protection early Monday morning.







2. I chose this article because GM is the biggest car company in the business and its losing their"umph". Their workers are losing their jobs, nobody's buying cars, and everything is going downhill. It has gotten so bad that President Obama will announce that thier entering bankruptcy and he will give them the most support.





3. I dont know how you would agree or disagree on this subject. Banckruptcy is bankruptcy no agree on nothing.



4. This info is presented fairly because if you read the 6th and the 9th paragraph it shows the decline of their business. Here is an example."Administration officials said late Sunday the federal government would provide an additional $30 billion to GM — which has already received about $20 billion in government loans — to help it restructure through bankruptcy. GM will follow a similar course taken by Chrysler LLC, which filed for Chapter 11 protection in April and hopes to emerge from its government-sponsored bankruptcy this week."
Heres another example. "GM will move forward with four core brands — Chevrolet, Cadillac, Buick and GMC — and cut four others. The company plans to cut 21,000 employees, about 34 percent of its work force, and reduce the number of dealers by 2,600. GM was announcing plans to close 11 facilities, idle three others and name the buyer of its Hummer division. GM's stock dropped to its lowest price in company history Friday, closing at just 75 cents. The shares will be virtually worthless in a Chapter 11 reorganization"

5. I would definetly use yahoo news all the time.




http://news.yahoo.com/s/ap/20090601/ap_on_bi_ge/us_automakers;_ylt=AkQg1BVxSHD7Claz2WXw9ROyBhIF;_ylu=X3oDMTJlMXJtb2c1BGFzc2V0A2FwLzIwMDkwNjAxL3VzX2F1dG9tYWtlcnMEY3BvcwMxBHBvcwMyBHNlYwN5bl90b3Bfc3RvcnkEc2xrA2dtdG9yZW9yZ2FuaQ--