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USA - Business - GM Chief Executive Rick Wagoner Announces Bankruptcy Protection

USA - Business - GM Chief Executive Rick Wagoner Announces Bankruptcy Protection

Fritz Henderson, General Motors president and CEO, announces that General Motos (GM) is filing for bankruptcy protection at a press conference at the GM building in New York City. General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration's plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. GM's bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 billion in debt and $82.29 billion in assets.
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Stock Photo ID:
42-22445318
Date Photographed:
June 1, 2009
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No Release
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Credit:
© Najlah Feanny/Corbis
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Rights Managed (RM)
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Corbis News
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60 MB - 3744px × 5616px • 12.00in. × 18.00in @ 300 ppi

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