Automobile Insurance 101

GM, one of the US Auto Industry’s big 3 has done the inevitable, filed for bankruptcy protection to get help from the government while they iron out differences with the French auto maker Fiat with the government getting control of a majority of their company’s stocks. They have been in talks with Fiat for quite sometime but previous efforts to get a working deal that should have prevented this were denied by the US government that funded the firm while they were on the negotiating table.
The government deadline has passed and they were given no further passes so the company has been forced to file for bankruptcy protection, getting more involvement form the government while they seek a more amiable deal with investors. They are closing their plants as well as the thousands of dealerships the world over with the auto industry watching every development for they stand to loose with the whole deal. As they await, current owners of autos from the GM brand are not sure how they would be obtaining service and dealer issues but the government has assured that they would be protected with assistance given to those who need it as the company finalizes their next step, to form a new company before the end of this year.