American industrial icon GM files for bankruptcy - KAIT Jonesboro, AR - Region 8 News, weather, sports

American industrial icon GM files for bankruptcy

NEW YORK (AP) - General Motors, the fallen icon of American industrial might, has filed for Chapter 11 bankruptcy protection as part of an Obama administration plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.

Read what this means for GM here.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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