New GM Officially Exits from Bankruptcy Protection

.fullpost { display: inline; } On Thursday General Motors cleared the final hurdle for selling most of its assets to create the New GM which is primarily owned by the governments of the United States (60.8 percent), Canada and Ontario (11.7 percent), and by a trust fund providing medical benefits to UAW retirees (17.5 percent) while the 'Old GM' retains a 10 percent stake. "Business as