The logo of General Motors Corp. (GM) is seen in front of the GM headquarters in Detroit, the United States, April 15, 2009. The largest U.S. automaker, General Motors Corp., officially filed for bankruptcy protection at 8 a.m. EDT (1200 GMT) on Monday, the largest bankruptcy protection case in the U.S. industrial history. (Xinhua/Gu Xinrong) Photo Gallery>>>

Iconic U.S. auto giant GM declares bankruptcy

    NEW YORK/DETROIT, June 1 (Xinhua) -- In the largest industrial bankruptcy ever seen in U.S. history, General Motors Corp., the top U.S. automaker and once the world's largest corporation, filed for bankruptcy protection on Monday.

    The Detroit-based company, for decades a symbol of American manufacturing supremacy, corporate culture and even lifestyle, filed a Chapter 11 petition to the U.S. Bankruptcy Court for the Southern District of New York early Monday morning.

    The collapse of the century-old auto giant came at a time when the United States is experiencing the worst economic recession since the Great Depression. Just a month ago, Chrysler LLC, the country's third largest automaker, took the same path.  Full story

Obama says U.S. gov't to invest additional $30 bln to help GM

    WASHINGTON, June 1 (Xinhua) -- U.S. President Barack Obama promised on Monday that the U.S. government will invest additional30 billion dollars in GM, which he was confident will emerge from the bankruptcy protection process quickly. Full story

Fritz Henderson says China will continue to be GM's key partner of business

    NEW YORK, June 1 (Xinhua) -- General Motors CEO Fritz Henderson said Monday that China will continue to be a key partner of business of GM.

    Speaking at a press conference in GM's New York building, Henderson said that GM's venture in China is a critical part of GM, saying its business in China in "growing very fast."

    "Our business in China continues to grow very fast, I should say at torrid pace," he said. "And we are very appreciable of that."   Full story

GM decides not to abandon its headquarters in Detroit

    DETROIT, June 1 (Xinhua) -- The largest U.S. automaker General Motors which has filed Chapter 11 bankruptcy will not abandon its headquarters in Detroit's Renaissance Center as part of its restructuring, the Detriot News reported Monday.

    President Barack Obama told Michigan's senior members of Congress during a call Sunday night that GM will remain in the RenCen, despite enticements from the city of Warren to move there, a congressional aide briefed on the matter said. Full story

GM to cut 14 plants by 2012, reaffirming to build small car in U.S.

    DETROIT, June 1 (Xinhua) -- General Motors Corp. announced on Monday that it will close or idle 14 plants in more than two years, just several hours after the troubled carmaker filed for bankruptcy in New York. GM also reaffirmed it will build a small car at one of its U.S. assembly plants as it announced on last Friday.  Full story

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