GM set to file Chapter 11 Monday morning

From marketwatch.com

General Motors Corp. will file for Chapter 11 bankruptcy protection early Monday, wiping out billions of investment dollars and putting a federal bankruptcy court judge in charge of what for most of its 100-year history was a proud pillar of American industry. The company is also expected to name turnaround executive Al Koch as its new chief restructuring officer, The Wall Street Journal reported Sunday, citing people familiar with the matter. Koch, a managing director at the advisory firm AlixPartners LLP, will be named to the post when GM files its bankruptcy papers at 8 a.m. Eastern at the U.S. Bankruptcy Court in ... (full story)