CBS62logoNEW2013_blue_final_header_White wwj950-sm2011b 971-ticket-35smb 35h_CBSSportsRad_Detroit

Local

Old GM Nears Its End

View Comments
GM

To fuel your love of cars,

visit the Autos section.

  autos arrows plug v2 Old GM Nears Its End

DETROIT (WWJ) – A federal judge is expected to finalize a plan, Thursday, that will lead to the end of what is being called the “old” General Motors – the parts of the company left behind in bankruptcy.

The approval will settle the claims of creditors and bond holders who lost more than $30 billion. They’ll get about $5 billion worth of new GM stock. It also clears the way for environmental clean-ups. The old GM – officially called liquidation motors – is also in the final stages of selling off some of factories that had to be closed.

WWJ AutoBeat Reporter Jeff Gilbert says the “Old GM” will be completely out of business by the end of the year.

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,866 other followers