[icwhatudo]

Do all the union contracts go “poof” under these filings?

[Spktyr]

All contracts become null and void, yes.

[kcvl]

Anyone else hear this?!

[kcvl]

Henderson calls for ‘reinvented’ GM
Apr 01

GM is to close more car plants, lay off more workers and speed up consolidation of dealers in response to the US government’s demand for faster restructuring, its new chief executive said Tuesday. Just days after taking over from ousted chief Rick Wagoner, Fritz Henderson said there was a need to “reinvent GM” within 2009. He again raised the prospect of bankruptcy filing if GM cannot secure agreement with the auto workers union and its bondholders by June 1.

http://ftalphaville.ft.com/blog/2009/04/01/54277/henderson-calls-for-reinvented-gm/