General Motors filed for Chapter 11 bankruptcy protection today as part of the Obama administration's plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.GM's bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 billion in debt and $82.29 billion in assets.
So now we own a major share in a US automaker...GM, or as it will now be known: Government Motors. I can hardly wait to receive my first dividend check.
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