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Published: November 18, 2008
Bankruptcy must be part of rescue plan
WASHINGTON — "Nothing,” said a General Motors spokesman last week, "has changed relative to the GM board’s support for the GM management team during this historically difficult economic period for the U.S. auto industry.” Nothing? Not even the evaporation of almost all shareholder value?
GM’s statement comes as the mendicant company is threatening to collapse and make a mes...
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