GM's Henderson not ruling out failure cushion
DETROIT: Bankruptcy protection for the biggest US automaker is becoming more probable with a deadline just over two weeks away, the company's top executive told reporters.
General Motors Corp CEO Fritz Henderson is still holding out hope that the company can restructure without court protection, but he says the tasks to complete before a June 1 government-imposed deadline are large.
The automaker, Henderson said, is looking at its operations country-by-country to determine where it might have to file for bankruptcy, but he says a US bankruptcy doesn't necessarily mean that GM would file in other locations.
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