Cars and Drivers
Obama Camp Denies Pre-Packaged Chapter 11 Plan For Detroit
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So much for the Bloomberg report that the new administration would set up a pre-packaged bankruptcy for GM (GM) and perhaps other car companies.
According to Reuters, President-elect Barack Obama’s transition team is not exploring a prepackaged bankruptcy plan for U.S. automakers, officials from Obama’s team said on Friday.
Douglas A. McIntyre
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