Despite a Possible Credit Downgrade and Plummeting Shares, GM Says It's Not Considering Bankruptcy
The day after General Motors' stock price plummeted to levels not seen since the 1950s, the country's top automaker dismissed speculation that it was headed toward bankruptcy.
"Clearly, we face unprecedented challenges related to uncertainty in the financial markets globally and weakening economic fundamentals in many key markets, but bankruptcy protection is not an option," GM spokesman Mike Meyerand told ABCNews.com this morning.
"GM considering bankruptcy would not be in the interests of... Full Story
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