General Motors (GM) has filed for Chapter 11 bankruptcy protection on June 1, seeking additional funding from the US treasury as it sells off its assets and restructures via a Section 363 resale to itself, as a new business entity.
GM has also sold its Hummer brand, and is seeking to spin off Saturn as well.
Shares in GM hit their lowest price since 1949 in early October amid fears that the car manufacturer may be unable to turn its business around. The company has admitted that it faces "unprecedented challenges" stemming from the international financial crisis but says bankruptcy is not an option. Tag your stories, photos and videos "GM" to see them featured.