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GM makes bankruptcy preparations
- Wednesday, April 08 - 2009 at 10:36
General Motors is in 'intense' and 'earnest' preparations for a possible bankruptcy filing, a source familiar with the company's plans has told Reuters. GM Chief Executive Fritz Henderson has said the company prefers to restructure out of court but could go to court if needed. A plan to split the company into a new company made up of the most successful units, and an 'old company' of its less-profitable units is seen as the company's best configuration for the future, said another source familiar with the talks.
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