Posts Tagged ‘bankruptcy’
General Motors is bankrupt and the federal government has taken a controlling stake. NationalizedYet and ReprivatizedYet have been updated
NationalizedYet may need a third column between ‘yes’ and ‘no’, for companies where the executive branch has been acting like the owner, even without a formal majority interest. Chrysler, Citibank, and Bank of America could fall into that category.
A capital infusion around May 21 may have given the government a majority stake in GMAC, but it seems a formal announcement of GMAC’s new capital structure may not come until further fundraising is completed. For now GMAC still lives in the ‘no’ column