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GM to skip debt payment Add to ...



Remarkably, the shares of General Motors Corp. were relatively unchanged on Wednesday afternoon - even after The Wall Street Journal (subscription required) reported that the struggling auto maker doesn't plan to make a $1-billion debt payment due on June 1. Instead, GM is reportedly relying on a successful debt-to-equity exchange with bondholders, similar to a deal struck by rival Ford Motor Co. recently, or court protection.

 

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