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Protection - USA - GM not considering bankruptcy filing
DETROIT.Mich,USA - The Detroit News, by Dee-Ann Durbin/AP -Oct 19, 2005: -- General Motors Corp. isn't considering bankruptcy protection as a way to solve its financial troubles, the automaker's chairman and CEO said Wednesday... "As we look at the responsibilities we have to a broad range of constituents, as we look at what we need to do to make the business successful, as we look at our businesses around the world, we think there are significant costs to bankruptcy," Rick Wagoner said. "We don't think it's a good option."... Wagoner also said he and other top executives will see their compensation cut by 40 percent or more this year, deflecting criticism from UAW President Ron Gettelfinger and others that executives aren't making enough sacrifices...
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