THE INEVITABLE for General Motors - America’s 101 year-old vehicle manufacturing colossus, a symbol for generations of Americans and once the world’s largest car company - has now occurred.

Last night, Australian time, GM filed for bankruptcy. But while 11 plants will close, and three will be mothballed until at least the end of 2010, an [...]

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GM US HAS OVERNIGHT moved one step closer to bankruptcy following the rejection of a debt for equity offer by GM to its bondholders (the banks and institutions holding US$27.2 billion in GM debt securities).

Chapter 11 bankruptcy protection for GM is now all-but certain; perhaps as early as tomorrow. Of such a size and [...]

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