'New' GM is born

Clean1 · Posted: 10 Jul 2009 07:29 pm Post subject: 'New' GM is born

After a six-week trip through bankruptcy, the "new" General Motors was born Friday owned by the government and free of tens of billions in debt and shed of unaffordable brands, dealerships and plants.

The sale of the valuable assets of the old company to the new GM was completed Friday morning.

"This is an exciting day for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers," GM Chief Executive Fritz Henderson said.

Rest of story : http://money.cnn.com/2009/07/10/news/companies/new_gm/index.htm?postversion=2009071016