Q: How long was General Motors in bankruptcy?
A: You mean, how short a duration of time was General Motors in bankruptcy?
GM filed for Chapter 11 bankruptcy on June 1 and emerged from bankruptcy on July 10. That's around six weeks.
It was five days before on July 5 that a federal judge allowed GM to sell its Cadillac brand and other assets to a new company owned primarily by the US government.
Other landmark dates in the recent history of GM:
December 19, 2008. The government announces that General Motors will received $13.4 in federal bailout funds.
March 29, 2009. Fritz Henderson takes over as CEO after Rick Wagoner was ousted at the behind-the-scenes urging of the executive branch.
May 15, 2009. General Motors declares that it plans to close 1,200 of its dealerships.
Showing posts with label gm. Show all posts
Showing posts with label gm. Show all posts
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