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Obama Camp Denies Pre-Packaged Chapter 11 Plan For Detroit

247Wallst | Fri, 11/21/2008 - 2:30pm | auto bailout, automakers, U.S. Auto Industry |  Add a comment

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So much for the Bloomberg report that the new administration would set up a pre-packaged bankruptcy for GM (GM) and perhaps other car companies. According to Reuters, President-elect Barack Obama's transition team is not exploring a prepackaged bankruptcy plan for U.S. automakers, officials
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