General Motors Corp. will offer the government the choice of giving it billions more in bailout money or seeing it file for bankruptcy when it presents a restructuring plan next week, according to a report published Saturday.
The online edition of The Wall Street Journal, citing unnamed sources, said the competing choices present a dilemma for the Obama administration, which may fear seeing the industrial icon carmaker (GM:General Motors Corporation
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GM 2.50, -0.15, -5.7%) fall into bankruptcy and cut more jobs if it's refused more aid.
The government has already committed $13.4 billion http://www.marketwatch.com/news/story/gm-say-more-aid-bankruptcy/story.aspx?guid=%7BD2483F8A%2D638A%2D4A2B%2D9EC2%2D428EE920D5E5%7D&tool=1&dist=bigcharts&
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