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.