Hundred Years General "flameout" the quickest 60 days "the newborn"

Every reporter Xing from Shanghai "Hundred years old car" the United States General Motors Company duly submitted the bankruptcy protection application. It was the second of the Chrysler company to file for bankruptcy protection under the financial turmoil of the "Big Three" of U.S. auto makers.　　GM will also be the first major manufacturing company to file bankruptcy in U.S. history. In a statement last night, GM issued a written application to the US court on June 1 (US time) to launch a corporate reconstruction program under the court's supervision under chapter 11th of the U.S. Bankruptcy Act, Shanghai General Motors said yesterday.　　The statement said that this has no real impact on Shanghai GM, Shanghai GM's business operations and investment projects as usual.　　GM's "Freshman" earlier, the U.S. government released news that GM submitted a reconstruction plan is feasible, so decided to provide additional 30 billion U.S. dollars in federal government loans to finance GM's reconstruction plan. GM also moved a motion to sell the assets to a new company (new GM) under section 363. The US Treasury will be the main shareholder of the new GM.　　Under U.S. law, companies that enter the 11th procedure can sell certain assets, and 363 can make the sale quicker and more orderly. It is understood that, if approved by the court, GM plans to set up a new company that will include the world's core brands (including Buick, Chevrolet, Cadillac, GMC), according to GM's agreement with the US Treasury, the creditor with the largest security interests, and other stakeholders.　　Core technology and quality assets, and will soon start, into normal operation. After entering bankruptcy protection, the U.S. government will hold a 60% stake in GM, with the Canadian government, the United Auto Workers Union's health fund and unsecured creditors holding 12.5%, 17.5% and 10% respectively. In addition, GM will start bankruptcy reorganization under government control, the reorganization process is expected to last 60-90 days.　　In the meantime, GM may also cut 21,000.　　The US government also said GM was one of the world's most influential and largest companies for nearly a century, and that the current launch of the reconstruction plan would mean the end of old GM, the birth of a new General Motors.　　GM's China business continues as usual as GM's Chinese joint venture is not involved in the US court-supervised reconstruction program for the company. Shanghai GM said last night that the technology for global platform products planned and produced by GM, which belongs to GM's global Technology Management Center, will be incorporated into the new GM as part of GM's current reconstruction plan.　　According to the Shanghai GM, Pan Asia and General Motors agreement, Shanghai General Motors, Pan-Asia can complete the use of these products technology and access to global engineering support. In addition, GM's investment in Shanghai has not been affected by GM's filing for bankruptcy protection, and Shanghai GM says it invests 1.6 billionYuan's test site project is being implemented, the project will be completed in the future to further enhance Pan-Asia's local research and development capabilities.　　Shanghai General Motors will continue to conduct normal business cooperation with suppliers and distributors in accordance with existing contract terms.　　GM China "will be better Tomorrow" June 1, GM announced the results of the restructuring, the results of the impact on GM China geometry?　　The answer most analysts give is that the crisis is insulated from GM China and may even lead to "opportunities".　　Underpinning analysts ' view is that GM China operates independently and has a healthy asset, while GM's bankruptcy protection will help the general industry accelerate its shift to China.　　Jianue, a veteran auto industry analyst, believes that after bankruptcy protection, the solution to the debt problem, GM's future direction has been clear, its general production will be transferred overseas, to China, India and other markets where the purpose of the transfer is also increasingly clear, after the general bankruptcy protection, China's business will do better. Independent auto industry analyst Bell Division also believes that GM's bankruptcy protection has little impact on its overseas operations, especially in China, where two joint ventures, Shanghai General Motors and SAIC-GM Wuling, operate well, can "feed themselves" and feed their headquarters, and the expansion of two companies in the future does not require headquarters funding. At the same time, Shanghai GM now has the core brands that remain after GM's bankruptcy, and subsequent products will not be affected.　　Even if Opel is taken over by Magna, the Opel technology introduced by Shanghai GM has shifted without much impact. A Distributor managing GM Buick 4S and Shanghai GM's Chevrolet 4S store said he did not feel the negative impact of the general bankruptcy protection crisis, the normal business, the supply and operation of the factory did not affect, he felt that the U.S. bankruptcy protection and China's bankruptcy protection is not the same,　　General bankruptcy protection will be light after stripping the debt.　　Wangliucheng, a car industry analyst at China Merchants Securities, said GM's bankruptcy protection was even beneficial to its Chinese business, as it would accelerate the shift of GM to China.　　Yesterday, GM China did not comment on the final results of the GM restructuring, saying only that the Hummer brand has identified a potential buyer, a preliminary agreement has been signed, Opel's management in China is still being exercised by GM China, and the Saab brand has no further news. Every journalist Xing