Lost among all the talk about the sparkly "new" GM is the leftover business of the "old" GM. You remember that GM right? The one with all those pesky liabilities, old factories and unwanted brands.
Well, according to testimony by Albert Koch, GM's appointed restructuring chief, winding down the bad GM could cost "slightly in excess of $1.25 billion."
He went on to say that the wind down could take two to three years while CEO Fritz Henderson added that environmental concerns could push the amount even higher.
AutoObserver: "Bad" GM Wind-Down To Cost $1B Plus
greenpony says:
03:05 PM, 07/ 2/09
Man, I wish I could drop all my debt into a "bad" me and not worry about it anymore.
brn says:
06:24 AM, 07/ 6/09
greenpony, you can. File bankruptcy.