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Today it was leaked to the New York Times that the Treasury Department has directed GM officials to lay the groundwork for a bankruptcy filing. The bankruptcy could be as short as a few weeks for portions of the company. The “less desirable” parts could remain in court for longer and may be liquidated.

Unwanted brands, factories and health care obligations are the departments that are likely on the chopping block.

Last week the GM CEO said that bankruptcy was avoidable for the company, however, it looks more and more like bankruptcy is the best and most likely option for the company.

Jeremy

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