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View Diary: Michigan Get Together: Planning Diary II (35 comments)

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  •  Just got this news flash (0+ / 0-)

    from WSJ

    General Motors has hired lawyers and bankers to consider whether to file for bankruptcy protection.

    While still fighting to forestall the move, GM management recently tapped bankruptcy veteran Harvey Miller of New York law firm, Weil Gotshal & Manges LP, to handle what would be one of the largest and most controversial filings in U.S. history. Others involved in the matter include restructuring veterans Jay Alix, Evercore Partners' William Repko, and Blackstone Group's Arthur Newman.

    The hirings have both a practical and political bent. Such a large case typically takes lawyers and bankers months to prepare. It also highlights the auto makers growing desperation as it petitions the U.S. Congress for a $14 billion bailout package.

    Ouch!

    "The truth is rarely pure and never simple." The Importance of Being Earnest, Act I, Oscar Wilde, 1895

    by Cordelia Lear on Thu Dec 11, 2008 at 04:48:51 PM PST

    [ Parent ]

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