moakhamet84.blogspot.com
Chevrolet-Saturn of Harlem Inc., a New York-based affiliate of the Detroi automaker, was the first GM affiliate to seek bankruptcyg protection Monday morning throughthe U.S. Bankrutpcy Court's Southerbn District of New York, according to court records. The restructuring will enable GM to emerged as a viable entity under the brand namenew GM. It also will give the federal government, which plans to make availableabout $30 billiohn of federal assistance to support the a large ownership stake in the company.
Two area companies were amontg the list of creditoresin GM's filing: New York-based Bank of New York Mellon, with claimd of $176 million, and Downtown-based US Steel, with claima of $9.6 million. For a list of see GM's . According to a release from the White the company plans to announcew today that it will closd 11 facilities and idleanothetr three. GM had already announced in May .
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment