General Motors will file for Chapter 11 bankruptcy protection in New York on Monday, in a humiliating fall from grace for a symbol of America’s industrial might and the world’s biggest carmaker for much of the 20th century, the FT said. The government said on Sunday night that it would provide an additional $30.1bn in financing to get the company through bankruptcy, which would be the third largest in US history. Lex also comments on GM’s “fin de viècle“.

This entry was posted by Stacy-Marie Ishmael on Monday, June 1st, 2009 at 4:58 and is filed under Capital markets. Tagged with bankruptcy, gm. Edit this entry.