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CORRECTED: GM shares slump as bankruptcy fear grows

GM shares tumble as bankruptcy fear grows

Shares of General Motors Corp plunged 17 percent on Monday after a report that the U.S. Treasury is directing the automaker to lay the groundwork for a bankruptcy filing by June 1.

GM told to prep for bankruptcy filing: report

WASHINGTON, April 12 - The U.S. Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by June 1, even though the automaker has publicly stated it could reorganize outside of court, The New York Times reported on Sunday.

U.S. Treasury directs GM to prep for bankruptcy filing: report

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Three bidders left in Hummer auction: sources

Three bidders remain for General Motors Corp's Hummer brand, two sources with knowledge of the matter said on Wednesday, adding that current offers range from $100 million to $200 million in cash, in addition to other commitments.

GM to meet with task force on restructuring

General Motors Corp and Chrysler launched government-backed assistance programs for parts suppliers on Wednesday, and the task force overseeing the carmakers' restructuring was expected to meet with GM this week to speed up the process.

Auto parts shares jump as GM, Chrysler launch aid

Ford says has no interest in Chrysler brands

Ford Motor Co has no interest in acquiring any Chrysler assets or brands if the automaker is forced into bankruptcy, the president of Ford's Americas unit said on Wednesday.

GM must restructure, bankruptcy or not: executive

General Motors Corp is working hard to meet a June 1 deadline to present an accelerated restructuring plan that is vital for the company whether it goes bankrupt or not, a senior executive said on Wednesday.

GM readies for bankruptcy

GM edged closer to preparations for possible bankruptcy on Wednesday, a source familiar with the company's plans said, while Germany extended its subsidy for scrapping old cars.

GM in intense preparations for bankruptcy: source

General Motors Corp is in intense and earnest preparations for a possible bankruptcy filing, a source familiar with the company's plans told Reuters on Tuesday.

GM, Segway unveil electric two-seater vehicle

Struggling General Motors Corp. is teaming with Segway, the scooter company, in a bid to answer consumers’ green transportation needs by developing a battery-powered vehicle that cuts through urban congestion and emits less pollution.

GM in intense bankruptcy prep: source

General Motors Corp is in intense and earnest preparations for a possible bankruptcy filing, a source familiar with the company's plans told Reuters on Tuesday.

Wall Street slides as earnings, GM weigh

U.S. stocks fell on Tuesday as investors braced for what is expected to be another dismal earnings season and the specter of bankruptcy at General Motors resurfaced.

GM in intense bankruptcy preparations: source

General Motors Corp is in intense and earnest preparations for a possible bankruptcy filing, a source familiar with the company's plans told Reuters on Tuesday.

GM's Saab attracts some interest as Ford cuts debt

General Motors Corp has attracted 20 potential buyers for its struggling Saab brand and could complete a sale by June as it rushes to offload unprofitable units in a sweeping restructuring.

Ford shares rise after it slashes debt

Ford Motor Co said on Monday it had slashed automotive debt by 38 percent, or $9.9 billion, bolstering its finances amid a deep auto industry downturn and sending its shares up more than 13 percent.

Ford slashes debt by $9.9 billion

Ford Motor Co has reduced its automotive debt by 38 percent, or $9.9 billion, part of a series of moves to bolster its finances amid a deep industry downturn, sending its shares up more than 11 percent.

Ford slashes automotive debt by $9.9 billion

Court okays Saab restructuring, sale seen soon

A Swedish local court on Monday granted General Motors' loss-making unit Saab an extension of the period it is protected from creditors, giving it further time to restructure.

GM CEO Henderson says bankruptcy not inevitable

Bankruptcy is not inevitable for General Motors Corp, said the automaker's new chief executive on Sunday, who is under White House orders to win more concessions from bondholders and unionized workers.

GM CEO says bankruptcy will be fast if needed: report

U.S. automaker General Motors Corp will move quickly into bankruptcy if necessary, chief executive Fritz Henderson said in an interview with the Financial Times newspaper published on Friday.

Car stocks advance as recovery hopes swell

Shares of major carmakers rallied on Thursday after better-than-expected sales in the United States and Europe encouraged hopes that a global auto market collapse could be nearing an end.

Hyundai to go ahead with eco cars

Hyundai Motor Group, the world's No. 5 automaker, will go ahead with plans to develop environment-friendly cars despite the segment's low profitability and an industry downturn, a senior executive said on Thursday.

Automaker bankruptcy fears rattle parts suppliers

Fears that a major U.S. automaker could seek bankruptcy protection are causing auto parts suppliers to demand quicker payments from the manufacturers, exacerbating problems for the already hard-pressed car makers.

U.S. auto sales plunge but bottom seen near

U.S. auto sales fell 37 percent in March, a smaller-than-expected drop that encouraged hope that the world's largest car market is nearing a bottom after a freefall that has pulled the industry into a deepening crisis.

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