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Yeah, the sale of their own building would be a monumental event for them, and really a last ditch effort.
They will raise some money from that, which will keep them going for the short term, but before long all that money will be gone, their building will be gone, and they'll be left with more debt (huge rent payments).
It's really hard to see how a bky is not inevitable for GM. (Barring, of course, a "government bailout").
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