Members of General Motors’ board of directors are willing to consider “all options” for the ailing auto maker, including an eventual filing for bankruptcy protection, a stance that puts them in rare disagreement with chairman and chief executive Rick Wagoner, the WSJ reported at the weekend. As part of his push to win a federal bailout for the company, Wagoner told Congress last week that GM management believes bankruptcy protection is not a viable option for the company. Instead, GM is focusing on persuading lawmakers to provide financial help, Wagoner said. The board, which in the past has publicly supported Wagoner, agrees that seeking government funding is GM’s top priority. But it isn’t willing to dismiss the possibility of a bankruptcy filing, say people familiar with the thinking of the board’s outside directors.

This entry was posted by Gwen Robinson on Monday, November 24th, 2008 at 4:50 and is filed under Capital markets, People. Tagged with gm, Rick Wagoner. Edit this entry.