General Motors to seek approval to sell itself
GENERAL Motors is heading to bankruptcy court tomorrow to seek approval to sell its assets to a ``New GM'' in a plan to reinvigorate the car maker under US government ownership.
The new General Motors Co. plans to register 3.5 billion shares of stock to ready itself for a public offering sometime next year, using the proceeds to repay at least part of what it owes the US government and other stakeholders.