Here is a release from the White House on GM’s Chapter 11 filing as reported by the Washington Post. According to the release, today is just another day at the office. It is all in the “ordinary course”. Read it by clicking here.
And now GM will only have to sell 10 million cars per year to break even instead of 16 million cars per year. I don’t know about you BUT that sounds like a lot of cars that have to be sold annually just to break even.
Do you think GM will sell 35,000 to 40,000 cars today? That is what they have to do every single work day - including Saturdays - to break even!
