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General Motors weighs bankruptcy as option
The board of directors of embattled US automaker General Motors Corp is considering "all options" including bankruptcy, according to a report on the Wall Street Journal's website late on Friday.
The paper, citing people familiar with the board's thinking, said the stance puts it in conflict with chief executive Rick Wagoner, who told lawmakers this week bankruptcy is not a viable alternative for the company. GM, in a statement to the newspaper, said the board has discussed bankruptcy, but said the board did not view it as a "viable solution to the company's liquidity problems." (Reuters)
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