GENERAL MOTORS DECLARED BANKRUPTCY
/PanARMENIAN.Net/
01.06.2009 20:27 GMT+04:00
/PanARMENIAN.Net/ Major American auto maker General Motors declared
bankruptcy – the largest in US history. The decision, supported by
government, was long expected – company’s sales suffered a major slump
within lasts years. Debts of around $170 billion twice exceeded its
market value. Supposedly, 60% of company’s stocks will be redeemed
by the government, who’ve extended a serious monetary support to
General Motors.
Disclaimer: This article was contributed and translated into English by Hovhannisian John. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2009/06/02/general-motors-declared-bankruptcy/