Tuesday, June 02, 2009

G.M.’s Big Bankruptcy, by the Numbers - DealBook Blog - NYTimes.com

More on the story that everyone seems to be talking about.

G.M.’s Big Bankruptcy, by the Numbers - DealBook Blog - NYTimes.com:
"...excluding financial companies — which generally have bigger balance sheets than industrial companies — G.M. isn’t the reigning Chapter 11 heavyweight. The largest nonfinancial bankruptcy in United States history is that of WorldCom: when it filed in 2002, it reported about $104 billion in assets. (Many of those “assets” vanished, however, when WorldCom’s accounting fraud was straightened out.)

Nevertheless, G.M.’s reorganization will have its place in the record books.

With more than $82 billion in assets, G.M. on Monday became the largest industrial company to file for Chapter 11 protection. Its assets are more than double what Chrysler"

Be sure to see the chart at the bottom of the NY Times article.

No comments: