GM Use of Surgical Bankruptcy to Survive Will Encounter Delay

April 2 (Bloomberg) -- General Motors Corp.’s plan to use a quick “surgical” bankruptcy as the most likely means to become a viable business is fraught with dangers of intransigence from bickering stakeholders and delay, reorganization experts said.

 

President Barack Obama believes such a bankruptcy is the most likely way for GM to become a competitive automaker, people familiar with the matter said. To get needed U.S. aid without court protection, GM still has two months to come up with deeper cost and debt reductions than the biggest U.S. automaker proposed in a bailout plan last month.

NEW YORK (MarketWatch) -- Gold futures rose slightly Wednesday as the metal's investment appeal increased with expectations that the meeting of the Group of 20 nations may not pull the world's economy out of recession.
But rising U.S. stocks curbed gold's attractiveness and limited gains in prices.
Trading stayed in a narrow range as investors remained cautious ahead of the G20 meeting on Thursday, when the dollar's status as the global reserve currency is expected to be discussed.