GM might be 89 percent-owned by the U.S. government and the United Auto Workers| Reuters

 

The new GM that would emerge from the restructuring would be 89 percent-owned by the U.S. government and the United Auto Workers unions

“The bond exchange needs to be successful for us to avoid bankruptcy," Henderson[CEO of GMC] said. "It's not impossible, but bankruptcy is now more probable."

GM to slash costs, drop Pontiac | U.S. | Reuters