GM: Bankruptcy “Now more probable …”
From NYT live blogging of Fritz Henderson, GM’s new CEO, press conference this a.m.:
In his strongest language of the news conference, Mr. Henderson says bankruptcy is now “more probable” for G.M. than in the past. Mr. Henderson said circumstances may drive G.M. into bankruptcy “as the strategy that we need to deploy.” He said, “If I didn’t want to be part of a bankruptcy, I would have said, no, I don’t want to be part of it.” He said he was asked to do the job and make G.M. successful, whatever it takes.