General Motors’s new chief executive told CNBC that filing for Bankruptcy may be the best option for the struggling automaker.
In a taped interview to be aired tonight on NBC Nightly News, Fritz Henderson said that because of greater demands from the Obama administration to restructure, GM is considering the bankruptcy option. The auto giant previously had ruled out such a move, saying it would discourage people from buying GM cars.
Couldn't Rick Wagoner, the deposed CEO, have done that?
A lot of us thought GM should have been put through a structured bankruptcy way back before we gave them $14 billion dollars.
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