Obama To Discuss GM Bankruptcy Filing
President Barack Obama will hold an 11:30 a.m. Monday event discussing the bankruptcy filing of General Motors, according to two officials close to the talks. The officials said that GM is expected to officially file the paperwork on the bankruptcy earlier in the day. Obama will then explain the rationale for the filing and his hopes that this is the best route for a turnaround. The president made a similar announcement after Chrysler, another of the Big Three automakers, filed for bankruptcy protection on April 30. But the officials cautioned that the situation remains “very fluid,” so it’s still possible that GM will technically file the paperwork after Obama speaks.
From CNN Senior White House Correspondent Ed Henry
Forbarackobamaonline.com
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