"General Motors has no bad years, only good years and better years" -- Harlow H Curtice, President of General Motors - 1954

From the National Post online – the end of General Motors? How very strange – the certainties of my childhood – Eatons, General Motors, the whole brave new (post war) world – all going… . (At least we still have Star Trek).

“General Motors Corp. CEO Fritz Henderson … said a bankruptcy filing was probable, although he still hoped that its restructuring goals could be accomplished outside the court process.

"Certainly the task that we have in front of us is large, but we know that we can get it done," he said. "Today, it's more probable that we would need to resort to a bankruptcy process. But there's still a possibility and an opportunity for it to be done outside of a bankruptcy."

He also said a bankruptcy filing in the U.S. does not necessarily mean a bankruptcy filing in Canada and other countries hosting its operations.

…

Last week, Canadian Auto Workers president Ken Lewenza said a GM bankruptcy filing was likely and was facing a Friday deadline to reach a new deal with the Canadian subsidiary.”