General Motors will file for Chapter 11 bankruptcy protection in New York today in a humiliating fall from grace for a symbol of America's industrial might and the world's biggest carmaker for much of the 20th century.
Prior to the filing, which will mark the largest bankruptcy in history of an industrial business, US President Barack Obama and Fritz Henderson, GM's chief executive, will seek to reassure workers, suppliers, dealers and car buyers that a leaner, reinvigorated GM will emerge from a court-supervised restructuring.
GM employs 230,000 people around the world, building more than 20,000 vehicles a day.
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