GM bankruptcy fears grow - News, Weather, Sports, Toledo, OH

GM bankruptcy fears grow

Posted by Lisa Strawbridge - email

DETROIT - General Motors is even closer to bankruptcy. The Treasury Department is now directing GM to lay the groundwork for a chapter 11 filing by June 1, if necessary.

President Obama's auto team will continue talks and conference calls with GM represntatives through the week.

GM has alread been granted $13.5 billion in federal aid.

More on the Web

NY Times.com: ‘Surgical' Bankruptcy Possible for G.M.

CNN Money.com: GM shares slump as bankruptcy fear grows.

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