GM (GM) Said Bankruptcy Protection is Not an Option
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After dropping 31% yesterday, to levels not seen since 1950, General Motors (NYSE: GM) issued a statement saying bankruptcy protection is not an option it is considering.
According to a Reuters report, GM said, ""Clearly we face unprecedented challenges related to uncertainty in the financial markets globally and weakening economic fundamentals in many key markets." The also said, "But bankruptcy protection is not an option GM is considering. Bankruptcy would not be in the interests of our employees, stockholders, suppliers or customers."
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