Bye-Bye, Miss American Car

The "Wall Street Journal" reports that "General Motors Corp. still hopes to avoid a bankruptcy, but the option is becoming increasingly unavoidable as the company struggles to achieve key goals toward completing an out-of-court restructuring. In addition, Fritz Henderson, GM's chief executive, said today that bankruptcy remains a "probable" outcome for the auto maker, which is subsisting on government loans (taxpayers' money) and in dire need of more cash.