US Financial Portfolio has informed General Motors (GM) to be prepared of facing bankruptcy from 1st June’09. But the recession affected company has informed that, GM itself will be able to restructure their Business. NY Times has informed it on last Sunday. Referring to an unnamed source, known about ’Plan for restructure’, the NY times stated that members of Obama’s automotive taskforce has leaked the news. They have discussed with representatives of GM Company at Detroit and Washington. It was also stated that, the discussion will continue for this week too.
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