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GM May Miss $1B Bond Payment Deadline: CFO

By Jessica Dye ( April 22, 2009, 12:00 AM EDT) -- General Motors Corp's chief financial officer said Wednesday that the floundering auto giant was unlikely to meet the U.S. government's June 1 deadline for making a $1 billion debt payment to bondholders, since by that time the company will either have achieved voluntary concessions from creditors or be in the midst of bankruptcy proceedings....

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