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General Motors Declared Bankruptcy

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  • General Motors Declared Bankruptcy

    GENERAL MOTORS DECLARED BANKRUPTCY

    /PanARMENIAN.Net/
    01.06.2009 20:27 GMT+04:00

    /PanARMENIAN.Net/ Major American auto maker General Motors declared
    bankruptcy - the largest in US history. The decision, supported by
    government, was long expected - company's sales suffered a major slump
    within lasts years. Debts of around $170 billion twice exceeded its
    market value. Supposedly, 60% of company's stocks will be redeemed
    by the government, who've extended a serious monetary support to
    General Motors.
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