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.