General Motors files for bankruptcy on June 1, 2009


General Motors, a hundred year old American icon filed for bankruptcy, a real impact of the economic slowdown of the US economy.

Chapter 11 regulations in the United States are forward looking and enables the Corporation that files for bankruptcy under Chapter 11 to regain financial health if there is vitality in the organization. Delphi an auto component manufacturer has come out of Chapter 11 with renewed vigor. It will be interesting to watch GM over the next 5 years.

Being an American icon it is a great loss to the prestige of America. One hopes that bad days are behind for USA

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2 Responses to “General Motors files for bankruptcy on June 1, 2009”

  1. Manish Thaper Says:

    I wish that GM be back soon and back with a bang. I love the American ability in business freedoms and abilities to import world class minds.

    And an intuition that a brilliant Indian mind will be the ‘SAVIOUR’

  2. ssemergic Says:

    Thanks Manish

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