DETROIT – General Motors Corp. has pulled together many of the pieces needed to complete government-ordered restructuring, but its board still is likely to decide Saturday to head into bankruptcy protection because there’s too much left to do.
Word of the board’s decision, which would be made during two days of meetings, may not be known until Monday, when GM is expected to actually file for bankruptcy protection in a New York federal court.
The troubled automaker made much progress last week, signing a cost-cutting deal with its main union and announcing it would reopen a closed plant to build the next generation of small fuel-efficient cars in the U.S., rather than China.
Source: Yahoo
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