WASHINGTON (AP) – The White House says President Barack Obama thinks progress is being made toward restructuring General Motors Corp. and putting it on a path to being a viable auto company.
White House press secretary Robert Gibbs says: “We have seen encouraging signs.” But he refused to speculate whether GM would be able to avoid bankruptcy.
Gibbs was speaking to reporters as the United Auto Workers union ratified concessions on Friday. The company is expected to file for Chapter 11 bankruptcy protection on Monday.
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