11 Milestones in GM's Year Since Bankruptcy
GM's one year anniversary of its bankruptcy filing is an occasion to review what's happened since that dramatic day in June 2009. TIME offers a look at GM's big moments, its accomplishments, its changing leadership and its many remaining challenges
July 9, 2009
GM emerges from its quick trip through bankruptcy court with a $100 billion less in debt, a dozen fewer plants and factories and a new lease on life. The U.S. Treasury gets a 61% stake, the UAW employee benefit trust or VEBA gets 17.5% and the government of Canada and Ontario get 11.7%. GM's old creditors own 10% of the new GM but more than $28 billion GM owed to bond holders gets wiped off the company's books in exchange for the stock. GM's old shareholders get nothing.
See which businesses are bucking the recession.
View the full list for "11 Milestones in GM's Year Since Bankruptcy"Related Lists
Around the Web
-
Anne Burrell Comes Out: Food Network Star Confirms She's A Lesbian
From THE HUFFINGTON POST
-
John Edwards Trial Juror Flirting With Ex-Senator
From THE HUFFINGTON POST
-
Tide Redesigning Box After Kids Mistake Detergent For Candy
From SLATE
-
Islamist Leader Likely To Face Former PM in Egyptian Runoff
From SLATE
