All the kings horses and all the bond deals couldn’t keep GM from cracking.
As feared, the car giant has filed for bankruptcy .
Now what?
The plan is for the federal government to take a 60 percent ownership stake in the new GM.
The Canadian government would take a 12.5 percent stake, with the United Auto Workers getting a 17.5 percent stake and unsecured bondholders receiving 10 percent.
Existing GM shareholders are expected to be...
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