Today: General Motors to Government Motors
Yeah, this just happened today. Today is the day we’ll reference when we explain to future generations how the Federal Government took over GM:
GM Enters Bankruptcy Protection (news.bbc.co.uk)
Car giant General Motors (GM) has filed for bankruptcy protection, marking the biggest failure of an industrial company in US history.
The widely expected move comes after GM had seen its losses widen following a steep fall in sales in recent years.
The move into bankruptcy protection has been backed by the US government, which is now expected to take a 60% stake in the company.
Yes, this is change. Bad change.
-T
Posted: June 1st, 2009 under Obama's Change.
Tags: bankruptcy protection, General Motors, GM, Government Motors
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