GM bankruptcy seen as all but inevitable

DETROIT (Reuters) – After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration’s bid to reshape a fallen icon of American industry.

But with the clock ticking, experts see it as all but certain GM will follow its smaller rival Chrysler into federal bankruptcy court.

“I almost think it is inevitable,” independent auto industry analyst Erich Merkle said. “I don’t know how they are going to escape it.”

Reuters