BREAKING NEWS: General Motors Rumored to be Preparing for Bankruptcy Filing

SACRAMENTO - April 7, 2009: News from sources ranging as diverse as Reuters to the Mike Omera Radio Show are reporting that General Motors is on the verge of filing for bankruptcy. While there's no official word from either GM itself or or Wall Street, it seems like Wednesday morning could be the eventful time.

One possible scenario suggests that GM would be split into two parts: a "new" company made up of the most successful units, and an "old" one of its less-profitable units. This plan is said to be "gaining momentum" and is seen as the most sensible configuration.