GM says Bankruptcy is only option for survival
General Motors lawyers, in their argument before the US liquidation court judges, told that the company cannot afford to liquidate at this juncture as it could have draconian effect on the US economy as a whole. They also said that the ideal option is to go for bankruptcy which will give a chance for the largest US auto maker to fight for survival in a restructured form. The judgment on GM liquidation is expected to be obviously positive,and might be announced either this week or the next.
Clearance of Bankruptcy will help the company to again start focusing on sales and marketing activities in a big way, and grab back all the market share lost in the last two years.