GM Korea Won't File For Bankruptcy, But It's Not Out of the Woods Yet

by Steph Willems

April 23rd, 2018 11:43 AM

gm korea wont file for bankruptcy but its not out of the woods yet

If you spent the weekend in a state of breathless suspense, allow us to let some air out of that balloon. General Motors’ embattled Korean division, source of America’s smallest GM cars, has pulled back from the brink of bankruptcy after reaching an 11th hour deal with its union.

The tentative bargain opens the door to government assistance for the money-losing automaker, and should keep wee little vehicles rolling out of the country’s assembly plants.

As America-bound crossover, as well as other potential new models. At the end of the day, it’ll take billions in development and retooling to bring the company fully back from the brink.

[Source: Reuters] [Image: General Motors]

#GeneralMotors #GM #GMKorea #Korea #UnionNews

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Redapple on Apr 23, 2018

More Deadweight More Deadweight >Repeat

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- 28-Cars-Later on Apr 23, 2018
  
  Be careful what you wish for...
  
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- DeadWeight on Apr 23, 2018
  
  "Honesty is more than not lying. It is truth telling, truth speaking, truth living, and truth loving." James E. Faust "I hate a liar more than I hate a thief; a thief is after my salary, a lie is after my reality." 50 Cent
  
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Inside Looking Out on Apr 23, 2018

What would you expect. The bankrupt company (Daewoo) owned by another bankrupt company (GM) goes bankrupt. I used the word "bankrupt" three times in one 12-word sentence. Can you beat beat that?

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- Caboose on Apr 24, 2018
  
  GM can...
  
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