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As GM (GM) Prepares For Bankruptcy, “The Detroit Century” Draws To A Close

247Wallst | Wed, 05/27/2009 - 10:33am | General Motors, General Motors bankruptcy, GM, the fall of GM |  5 comments

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GM’s (GM) creditors have rejected a program that would have swapped most of the auto company’s debt for equity, effectively driving the firm into Chapter 11. The century that began with the mass production of the Model T in 1909 and ended with the worst collapse of domestic vehicle demand in history is over.
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