It looks like General Motors Corp.'s (NYSE:GM) management is throwing in the towel on avoiding bankruptcy and taking steps to ensure that its operations run as smoothly as possible should the company file for Chapter 11 on either Friday or Monday. (The Deal Pipeline subscribers can see the latest on GM
here.) To help put the minds of its employees at ease, the troubled automaker paid 90,000 workers early this week so that no one would think that Chapter 11 meant they would get stiffed.
Worried parts suppliers are also getting paid a bit early. Reuters
reports that GM will give its roughly 1,500 parts suppliers Thursday the payments scheduled to have been made on June 2. -
George White See Reuters storyThe Deal Pipeline content on GM
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