July 30, 2015

Partly sunny

GM says bondholder panel supports sweetened offer

DETROIT (AP) – General Motors Corp. said Thursday a committee of bondholders has agreed to a sweetened deal proposed by the U.S. government to erase the automaker`s unsecured debt in exchange for company stock. A person familiar with the deal said that it is probable GM will file for bankruptcy protection. The person asked not Read More…

AP Source: GM to announce 14 plant closures Monday

DETROIT (AP) – The news no one wants to hear is coming Monday morning to General Motors Corp. factories across the U.S. The troubled auto giant will identify 14 factories it will close by the end of 2010 as part of its restructuring plan, according to a person briefed on the plans. The announcement could Read More…