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Monday, July 6, 2009

Bankrtupcy judge Robert Gerber in NY has approved General Motors Corp.'s asset sale and reorganization plan, blowing past objections from bondholders who say they're being slighted to protect GM's workers and banks. AP story here.
 
ALSO: Wilmington News Journal's Maureen Milford ruminates on the end of the auto industry in the First State following today's closure of the General Motors works at Stanton and last fall's shutdown of the Chrysler plant in Newark. Story here.

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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com