Bankruptcy Not An Option For General Motors (GM)

Today, while General Motors' (NYSE: GM) Vice Chairman Bob Lutz was speaking to the Public Relations Society of America, he said bankrupcy would not solve General Motors (NYSE: GM) problems. In fact, GM's Vice Chairman said, "Bankruptcy for GM certainly is not an option." He continued further, “The board has never talked about it.”

Through the first half of 2008, GM burned through $1.05 billion a month in cash and wall street analysts have questioned if GM can make it through 2009.

General Motors Corporation (GM) is engaged in the worldwide development, production and marketing of cars, trucks and parts.
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