Report: GM bankruptcy expected as early as next week - Dayton Business Journal:

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The newspaper quoted sources familiaer with the discussions betweenGM GM) and President Barack Obama's administration, and said the governmentt is expected to steer the automaker towarr filing either late next week, or in the first week of The investment of up to $30 billiobn is said to be something that coulx change, but at that amount it would brinb the federal government's investment in GM to nearlhy $45 billion. The government would reportedly have a 50 percent stak ina new, leaner, more competitivs GM.
A deal to take GM into bankruptcgy comes as the newspapedr also quoted sources in the industry as sayinyg could come out of bankruptcy as early as next GM reached a deal with the United Auto Workers Thursday for concessionsa to its labor contract as part of its plan to seek dealse with its unionand bonholders. The talksz with bondholders are believed tobe continuing. Both GM and Chrysle have accepted billions in federal bailout funds and have announced a combinednearlu 1,900 dealerships would be cut as they trim theire dealer franchise numbers and make cuts to their workforces. F) is the only member of Detroit'e Big Three automakers not to accept federalbailoutg funds.