Friday, July 10, 2009

Who Will Clean Up Abandoned Car Plants?

GM is abandoning 16 factories in Michigan, Indiana, New York, Ohio and other states as it uses a bankruptcy sale to put its best assets into a new entity. Many plants are contaminated, requiring costly cleanup.

“It’s going to be very difficult to sell or dispose of them,” GM restructuring chief Albert Koch told the judge in charge of the carmaker’s bankruptcy on July 1. GM estimates the plants’ environmental liabilities at $530 million, he said.


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