Sunday, May 31, 2009

And now, the Emperors Prize. GM goes into bankruptcy - (UPDATED, It's official)

First it was Chrysler in Carbonite. Now, GM.
Yahoo News - WASHINGTON – "General Motors Corp., the iconic U.S. automaker that turned the concept of a 'car for every purse and purpose' into a global icon, will file for bankruptcy protection Monday and the federal government plans to take a 60 percent ownership stake in the company, said a congressional official briefed on the plan."
Having proved that they could encase Captain Solo (Chrysler) in bankruptcy protection without killing him, it's time for Luke Skywalker (GM). UPDATED, it's official.

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