Filed under: General Motors (GM)

Bloomberg reports that General Motors (NYSE: GM) is “speeding up” its preparations for a bankruptcy filing as talks with the UAW and bondholders have stalled. One plan being considered is a 363 sale, which would create a new company with GM’s brands and assets, unencumbered by its staggering obligations.

And now for a little discussion of former GM CEO Richard Wagoner, one of my favorite punching bags for the current recession. Mr. Wagoner spent months telling anyone who would listen that bankruptcy was “not an option”, even as more rational analysts insisted that it was very much an option.

Continue reading General Motors prepares for bankruptcy — Was Wagoner lying?

General Motors prepares for bankruptcy — Was Wagoner lying? originally appeared on BloggingStocks on Tue, 07 Apr 2009 14:30:00 EST. Please see our terms for use of feeds.

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