General Motors Corp. on Yahoo! News Photos

Flags fly outside the General Motors world headquarters building ...

(AFP/Getty Images/File) — Sat, 04 Jul 2009 20:02:20 GMT

(AFP/Getty Images/File) - Flags fly outside the General Motors world headquarters building in May 2009 in Detroit, Michigan. As General Motors executives await a key court ruling that will determine whether they can establish a new company, the shape of any future enterprise is already being considered.(AFP/Getty Images/File/Bill Pugliano)

File - A pickup truck moves by the main entrance to the General ...

(AP) — Fri, 03 Jul 2009 04:39:06 GMT

(AP) - File - A pickup truck moves by the main entrance to the General Motors plant in Doraville, Ga. in this November 21, 2005 file photo. General Motors Corp. may have to wait out the long holiday weekend to learn if its bankruptcy plan is moving forward, after U.S. Judge Robert Gerber adjourned a three-day hearing Thursday July 2, 2009 without indicating when he will rule on GM's plan to sell its good assets to a new company. The remaining pieces of the company, including some closed plants, will become the 'Old GM' and will be liquidated. (AP Photo/Gene Blythe, File)

A man walks into the US Bankruptcy Court in lower Manhattan ...

(AFP/Getty Images/File) — Thu, 02 Jul 2009 21:07:35 GMT

(AFP/Getty Images/File) - A man walks into the US Bankruptcy Court in lower Manhattan in New York City. The fate of General Motors was placed in the hands of a New York judge Thursday who must decide whether the largest US automaker can execute a swift exit from bankruptcy protection by selling its best assets to a new company.(AFP/Getty Images/File/Chris Hondros)

The fate of General Motors was placed in the hands of a New ...

(AFP/File) — Thu, 02 Jul 2009 21:07:35 GMT

(AFP/File) - The fate of General Motors was placed in the hands of a New York judge Thursday who must decide whether the largest US automaker can execute a swift exit from bankruptcy protection by selling its best assets to a new company.(AFP/File/Patrick Hertzog)

Fritz Henderson, Chief Executive Officer of General Motors Corp, ...

(Reuters) — Thu, 02 Jul 2009 19:42:33 GMT

(Reuters) - Fritz Henderson, Chief Executive Officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York July 1, 2009. REUTERS/Brendan McDermid

The Chrysler logo is seen on the outside of a dealership in ...

(AFP/Getty Images/File) — Thu, 02 Jul 2009 09:11:28 GMT

(AFP/Getty Images/File) - The Chrysler logo is seen on the outside of a dealership in Manhattan in New York City. Ford has benefited from the uncertainty surrounding rivals General Motors and Chrysler, which requested billions of dollars in emergency government loans last fall and were eventually forced to seek bankruptcy protection.(AFP/Getty Images/File/Chris Mcgrath)

The General Motors world headquarters in Detroit, Michigan. ...

(AFP/Getty Images/File) — Thu, 02 Jul 2009 09:11:28 GMT

(AFP/Getty Images/File) - The General Motors world headquarters in Detroit, Michigan. Automakers welcomed a 28 percent drop in US auto sales in June as a sign that the badly hit industry was stabilizing and expressed hope that a government-funded "cash for clunkers" program would drive vehicle sales in July.(AFP/Getty Images/File/Bill Pugliano)

People gather outside the US Bankruptcy Court in New York City. ...

(AFP/Getty Images) — Thu, 02 Jul 2009 01:01:42 GMT

(AFP/Getty Images) - People gather outside the US Bankruptcy Court in New York City. General Motors is appearing in bankruptcy court to seek approval of a plan to sell its assets to a "New GM" under federal reorganization. Automakers welcomed a 28 percent drop in US auto sales in June as a sign that the badly hit industry was stabilizing(AFP/Getty Images/Mario Tama)

Flags fly in front of General Motors world headquarters at the ...

(AFP/Getty Images/File) — Wed, 01 Jul 2009 21:45:18 GMT

(AFP/Getty Images/File) - Flags fly in front of General Motors world headquarters at the Renaissance Center in June 2009 in Detroit, Michigan. The US government will pull its support from General Motors if the automaker does not get court permission for a speedy exit from bankruptcy protection by July 10, an official testified on Wednesday.(AFP/Getty Images/File/Michael Heiman)

A sign hangs in the window of a General Motors dealership in ...

(AFP/Getty Images/File) — Wed, 01 Jul 2009 21:45:18 GMT

(AFP/Getty Images/File) - A sign hangs in the window of a General Motors dealership in Chicago. The US government will pull its support from General Motors if the automaker does not get court permission for a speedy exit from bankruptcy protection by July 10, an official testified on Wednesday.(AFP/Getty Images/File/Scott Olson)

FILE - In this May 15, 2009 file photo, Chevrolet HHR's are ...

(AP) — Wed, 01 Jul 2009 18:56:42 GMT

(AP) - FILE - In this May 15, 2009 file photo, Chevrolet HHR's are seen on display at a Chevrolet dealership in San Jose, Calif. General Motors Corp. said June sales in the U.S. slid 33.6 percent compared to the same month a year ago, though it saw sequential growth from May. (AP Photo/Paul Sakuma, File)

Fritz Henderson, Chief Executive Officer of General Motors Corp, ...

(Reuters) — Wed, 01 Jul 2009 18:13:03 GMT

(Reuters) - Fritz Henderson, Chief Executive Officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York July 1, 2009. REUTERS/Brendan McDermid (UNITED STATES TRANSPORT BUSINESS)

Fritz Henderson, chief executive officer of General Motors Corp, ...

(Reuters) — Wed, 01 Jul 2009 14:37:02 GMT

(Reuters) - Fritz Henderson, chief executive officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York June 30, 2009. REUTERS/Allison Joyce

General Motors Chief Executive Officer Fritz Henderson, pictured, ...

(AFP/File) — Wed, 01 Jul 2009 08:49:09 GMT

(AFP/File) - General Motors Chief Executive Officer Fritz Henderson, pictured, has been peppered with questions about the automaker's financial problems prior to bankruptcy, the government bailout and how the new company will be structured financially.(AFP/File/Jim Watson)

Cadillac vehicles parked on a section of the Great Wall near ...

(AFP/HO/GM/File) — Wed, 01 Jul 2009 07:19:59 GMT

(AFP/HO/GM/File) - Cadillac vehicles parked on a section of the Great Wall near Beijing. General Motors China has said vehicle sales in the world's most populous nation were up 38 percent year-on-year as the market continued to outpace expectations for growth.(AFP/HO/GM/File/Natalie Behring-Chisholm)

Two customers stand under the trademark of Buick at a dealership ...

(AFP) — Wed, 01 Jul 2009 07:19:59 GMT

(AFP) - Two customers stand under the trademark of Buick at a dealership in Beijing. General Motors China said vehicle sales in the world's most populous nation were up 38 percent year-on-year as the market continued to outpace expectations for growth.(AFP/Liu Jin)

FILE - In this June 2, 2009 file photo, an employee cleans a ...

(AP) — Wed, 01 Jul 2009 06:20:24 GMT

(AP) - FILE - In this June 2, 2009 file photo, an employee cleans a Buick sedan in the showroom of a GM dealership in Beijing, China. General Motors Corp. said Wednesday, July 1, 2009, that sales in China jumped 38 percent in the first half of this year, helped by strong demand for its minivans and other small vehicles. (AP Photo/Alexander F. Yuan, File)

General Motors CEO Fritz Henderson leaves bankruptcy court Tuesday, ...

(AP) — Wed, 01 Jul 2009 00:54:55 GMT

(AP) - General Motors CEO Fritz Henderson leaves bankruptcy court Tuesday, June 30, 2009 in New York. (AP Photo/Mary Altaffer)

A man walks into the US Bankruptcy Court in lower Manhattan ...

(AFP/Getty Images/File) — Tue, 30 Jun 2009 20:34:05 GMT

(AFP/Getty Images/File) - A man walks into the US Bankruptcy Court in lower Manhattan in New York City. General Motors sought approval from a bankruptcy court Tuesday to sell off its best assets to a new, smaller company supported by billions in government loans and unburdened by old debts.(AFP/Getty Images/File/Chris Hondros)

General Motors sought approval from a bankruptcy court Tuesday ...

(AFP/File) — Tue, 30 Jun 2009 20:34:05 GMT

(AFP/File) - General Motors sought approval from a bankruptcy court Tuesday to sell off its best assets to a new, smaller company supported by billions in government loans and unburdened by old debts.(AFP/File/Patrick Hertzog)

Amanda (L) and Kimberly Jones stand with a picture of Kimberly's ...

(Reuters) — Tue, 30 Jun 2009 15:42:06 GMT

(Reuters) - Amanda (L) and Kimberly Jones stand with a picture of Kimberly's husband, Mark Jones, in front of the U.S. Bankruptcy Court in New York June 30, 2009. Kimberly has a pending lawsuit against General Motors for a defective vehicle which caused the death of Mark Jones. General Motors filed for bankruptcy last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Legal counsellors and media wait to enter the U.S. Bankruptcy ...

(Reuters) — Tue, 30 Jun 2009 15:39:47 GMT

(Reuters) - Legal counsellors and media wait to enter the U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Legal counsellors and media wait to enter U.S. Bankruptcy Court ...

(Reuters) — Tue, 30 Jun 2009 15:39:41 GMT

(Reuters) - Legal counsellors and media wait to enter U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Jim Cummings, 71, protests outside the U.S. Bankruptcy Court ...

(Reuters) — Tue, 30 Jun 2009 15:38:27 GMT

(Reuters) - Jim Cummings, 71, protests outside the U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. The protesters, retired workers from Ohio and Mississippi, were concerned that when GM emerges from bankruptcy, they would not be required to pay pensions and health care. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS CONFLICT)

Protesters chant outside the U.S. Bankruptcy Court during the ...

(Reuters) — Tue, 30 Jun 2009 15:37:10 GMT

(Reuters) - Protesters chant outside the U.S. Bankruptcy Court during the General Motors Corp hearing in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. The protesters, retired workers from Ohio and Mississippi, were concerned that when GM emerges from bankruptcy, they would not be required to pay pensions and health care. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS CONFLICT)

General Motors employees and retirees protest outside of bankruptcy ...

(AP) — Tue, 30 Jun 2009 15:28:03 GMT

(AP) - General Motors employees and retirees protest outside of bankruptcy court in New York, Tuesday, June 30, 2009. The protesters, from Ohio and Mississippi, were concerned that when GM emerges from bankruptcy, they would not be required to pay pensions and health care for some retirees. (AP Photo/Seth Wenig)

Boxes are brought into U.S. Bankruptcy Court while legal counsellors ...

(Reuters) — Tue, 30 Jun 2009 15:27:33 GMT

(Reuters) - Boxes are brought into U.S. Bankruptcy Court while legal counsellors and media wait in line in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

Boxes are brought into U.S. Bankruptcy Court in New York June ...

(Reuters) — Tue, 30 Jun 2009 15:26:27 GMT

(Reuters) - Boxes are brought into U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS)

General Motors employees and retirees protest outside of bankruptcy ...

(AP) — Tue, 30 Jun 2009 15:26:09 GMT

Fritz Henderson, chief executive officer of General Motors Corp, ...

(Reuters) — Tue, 30 Jun 2009 15:25:23 GMT

(Reuters) - Fritz Henderson, chief executive officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York June 30, 2009. General Motors filed for bankruptcy on last month, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. REUTERS/Allison Joyce (UNITED STATES TRANSPORT BUSINESS IMAGES OF THE DAY)

Terry Cole, in wheelchair, looks at a line of reporters and ...

(AP) — Tue, 30 Jun 2009 15:08:54 GMT

(AP) - Terry Cole, in wheelchair, looks at a line of reporters and legal counsel in front of bankruptcy court in New York, Tuesday, June 30, 2009. Cole, who has a claim against General Motors for an injury he suffered, was there to draw attention to the fact that GM may be able to unburden itself of all pending claims as part of the bankruptcy proceedings. (AP Photo/Seth Wenig)

Amanda, left, and Kimberly Jones stand with a picture of Kimberly's ...

(AP) — Tue, 30 Jun 2009 15:01:28 GMT

(AP) - Amanda, left, and Kimberly Jones stand with a picture of Kimberly's husband, Mark Jones, in front of bankruptcy court in New York, Tuesday, June 30, 2009. The Jones have a pending lawsuit against General Motors for a defective vehicle which caused the death of Mark Jones; GM may be able to unburden itself of all pending claims as part of the bankruptcy proceedings. (AP Photo/Seth Wenig)

While a line of legal counselors and media wait to enter bankruptcy ...

(AP) — Tue, 30 Jun 2009 14:11:08 GMT

(AP) - While a line of legal counselors and media wait to enter bankruptcy court, General Motors employees and retirees protest outside of the court in New York, Tuesday, June 30, 2009. The protesters, from Ohio and Mississippi, were concerned that when GM emerges from bankruptcy, they would not be required to pay pensions and health care for some retirees. (AP Photo/Seth Wenig)

While a line of legal counselors and media wait to enter bankruptcy ...

(AP) — Tue, 30 Jun 2009 14:09:53 GMT

General Motors employees and retirees protest outside of bankruptcy ...

(AP) — Tue, 30 Jun 2009 14:08:28 GMT

Sedans are lined up under the illuminated sign of the Pride ...

(AP) — Tue, 30 Jun 2009 02:20:34 GMT

(AP) - Sedans are lined up under the illuminated sign of the Pride Chevrolet dealership in Lynn, Mass., Monday June 29, 2009. General Motors Corp., hoping for a quick exit from bankruptcy protection, on Tuesday will ask a bankruptcy judge to approve its plan to refashion itself as a leaner automaker owned mostly by the government. (AP Photo/Charles Krupa)

Sedans are lined up under the illuminated sign of the Pride ...

(AP) — Tue, 30 Jun 2009 02:20:04 GMT

US auto giant General Motors has stepped up talks with RHJ International ...

(AFP/DDP/File) — Tue, 30 Jun 2009 01:50:08 GMT

(AFP/DDP/File) - US auto giant General Motors has stepped up talks with RHJ International over a rival deal to sell its European units, including auto-maker Opel, and could sign a memorandum of understanding this week, a report has said.(AFP/DDP/File/Clemens Bilan)

FILE - This April 4, 1985 file photo shows the assembly line ...

(AP) — Mon, 29 Jun 2009 23:20:15 GMT

(AP) - FILE - This April 4, 1985 file photo shows the assembly line at the New United Motor Manufacturing Inc., plant in Fremont, Calif. General Motors Corp. said Monday June 29, 2009 it is ending its joint venture with Toyota Motor Corp. at a Fremont, Calif., manufacturing plant, bringing to a close the first partnership of its kind between a U.S. and foreign automaker as GM continues to downsize under bankruptcy. The Detroit automaker said it was unable to reach an agreement with Toyota over a new product plan at the facility. The plant, called New United Motor Manufacturing Inc., or Nummi, currently makes the Pontiac Vibe station wagon for GM and the Corolla compact car and Tacoma pickup truck for Toyota. (AP Photo/Paul Sakuma, File)

General Motors will drop its ownership stake in the US assembly ...

(AFP/File) — Mon, 29 Jun 2009 18:25:57 GMT

(AFP/File) - General Motors will drop its ownership stake in the US assembly plant it operates jointly with Japanese rival Toyota as it restructures its operations under bankruptcy protection, the automaker said Monday.(AFP/File/Stan Honda)

General Motors will drop its ownership stake in the US assembly ...

(AFP/File) — Mon, 29 Jun 2009 18:25:57 GMT

A "We Pawn Cars, Trucks and Bikes" sign sits in the ...

(Reuters) — Mon, 29 Jun 2009 16:37:00 GMT

(Reuters) - A "We Pawn Cars, Trucks and Bikes" sign sits in the window of a pawn shop on the main street in Pontiac, Michigan June 19, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp , the largest employer and taxpayer in the city of 66,000. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

A "For Sale- Bank Owned" sign sits in front of a home ...

(Reuters) — Mon, 29 Jun 2009 16:34:43 GMT

(Reuters) - A "For Sale- Bank Owned" sign sits in front of a home in Pontiac, Michigan June 19, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Two men walk past empty businesses up for lease in downtown ...

(Reuters) — Mon, 29 Jun 2009 16:33:32 GMT

(Reuters) - Two men walk past empty businesses up for lease in downtown Pontiac, Michigan June 19, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

A sign showing Pontiac, a Native American chief who waged a ...

(Reuters) — Mon, 29 Jun 2009 16:33:22 GMT

(Reuters) - A sign showing Pontiac, a Native American chief who waged a failed revolt against the British after the French and Indian War in 1763, is seen hanging by a street leading into Pontiac, Michigan June 19, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

Trucks are seen parked outside of the General Motors Pontiac ...

(Reuters) — Mon, 29 Jun 2009 16:31:58 GMT

(Reuters) - Trucks are seen parked outside of the General Motors Pontiac Assembly plant that produces the Chevrolet Silverado and GMC Sierra pick-up trucks in Pontiac, Michigan June 1, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 1, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

A large relief of Pontiac, the Native American chief who waged ...

(Reuters) — Mon, 29 Jun 2009 16:07:27 GMT

(Reuters) - A large relief of Pontiac, the Native American chief who waged a failed revolt against the British after the French and Indian War in 1763, is seen on the front of a former bank in Pontiac, Michigan June 19, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

A man walks past a large relief of Pontiac, the Native American ...

(Reuters) — Mon, 29 Jun 2009 15:57:04 GMT

(Reuters) - A man walks past a large relief of Pontiac, the Native American chief who waged a failed revolt against the British after the French and Indian War in 1763, on the front of a former bank in Pontiac, Michigan June 19, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 19. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)

FILE - In this Dec. 12, 2008 file photo, the General Motors ...

(AP) — Sun, 28 Jun 2009 06:57:27 GMT

(AP) - FILE - In this Dec. 12, 2008 file photo, the General Motors logo is seen outside the GM headquarters in downtown Detroit. General Motors Corp. has agreed to take on responsibility for future product liability claims, according to documents filed in federal bankruptcy court in New York on Friday June 26, 2009. The new company will now assume responsibility for future claims involving vehicles made by the old company. (AP Photo/Carlos Osorio, File)

A GMC advertisement runs on a billboard in Times Square, New ...

(AFP/File) — Sun, 28 Jun 2009 01:43:29 GMT

(AFP/File) - A GMC advertisement runs on a billboard in Times Square, New York. The US Treasury Department is close to striking an agreement with struggling automaker General Motors to preserve some legal claims against the company, The Washington Post reported(AFP/File/Don Emmert)