GM may have filed for bankruptcy protection today.

Securities Times reporter Wu Jiaming US auto industry giant GM's fate will be announced June 1 local time. GM began a two-day board meeting May 29 local time to make a final decision on the fate of the company. At present, the market generally believe that GM will be difficult to escape bankruptcy fate.　　If GM filed for bankruptcy, it would be the third largest bankruptcy case in U.S. history and the largest and most complex manufacturing bankruptcy. The debt-for-swap deal may be passed in Saturday as a deadline for GM bondholders to support the swap, but GM has not disclosed how many bondholders have agreed to a debt-for-equity deal.　　Under the previous restructuring plan, GM bondholders would give up 27 billion of billions of dollars in return for a 25% per cent stake in the restructured new company. But more than half of GM bondholders agreed to a debt-for-equity swap to clear the final hurdle for GM to file for bankruptcy protection, according to a US media source. Market analysts also believe that most of the creditors voted in favour. It is reported that bondholders will initially get a restructured GM 10% equity and warrants, in the future can buy an additional 15% of the equity.　　It is reported that GM is scheduled to June 1 local time in New York at the press conference to publish the news. The initial 72.5% per cent stake in the restructured new GM will be held by the US Treasury in return for more government aid, according to a regulatory document submitted by GM May 28.　　The Canadian government is likely to have a partial stake, with a 17.5% per cent stake in the UAW and a 10% per cent allocation to old GM to repay creditors ' debts.　　In the Saturday, the UAW said it had reached a new labor agreement with GM, with a 17.5% per cent stake in which the UAW would also be given warrants to buy an additional 2.5% per cent in the future. GM shares fell into "cents," US President Barack Obama said in an interview in Friday that liquidation bankruptcy should be the only option for GM. According to a US Treasury evaluation report, GM will recover gradually after its reorganization. The Treasury Department is optimistic that GM is expected to spend nearly 50 billion of billions of dollars of aid money back into the U.S. government during the year.　　Other sources point to the US Treasury's $360.6 million trillion in support of a warranty guarantee program, which will be implemented once GM is liquidated to provide warranty guarantees for GM's newly produced cars. GM, once the world's most lucrative company, is now on the road to bankruptcy, with General Motors ' shares tumbling 33% in Friday, to 75 cents at record lows. Not only has GM's stock been kicked out of the Dow, it has been classified as a junk by US securities analysts, and ratings agencies such as Moody's, Deutsche Bank and Barclays Capital have also cut GM's ratings several times. GM's share price has fallen by 99% in April 2000 compared with GM's near-hundred shares, down 87% in 2008 alone.