GM files for bankruptcy protection - bizjournals:

http://49cat.com/?p=988
Chevrolet-Saturn of Harlem Inc., a New York-based affiliatr of the Detroit automaker, was the firstt GM affiliate to seek bankruptcy protection Mondag morning throughthe U.S. Bankrutpcy Court's Souther District of New according tocourt records. The restructuring will enablew GM to emerge as a viable entitt under the brand namenew GM. It also will give the federa government, which plans to make availablewabout $30 billion of federal assistance to support the a large ownership stake in the Two area companies were amony the list of creditorsa in GM's filing: New York-based Bank of New York with claims of $176 million, and Downtown-based US with claims of $9.6 million.
For a list of creditors, see GM'sw . According to a release from theWhite House, the companu plans to announce today that it will closw 11 facilities and idle anotherd three. GM had already announced in May .