Judge approves plan for GM's future - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Judge Approves Plan for GM's Future

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    Facebook adds privacy settings to comply with European rules

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    (AP Photo/Matt Rourke, File). FILE - In this May 16, 2012, file photo, the Facebook logo is displayed on an iPad in Philadelphia. A propaganda expert who has studied Cambridge Analytica says the company helped Donald Trump’s presidential campaign use f...(AP Photo/Matt Rourke, File). FILE - In this May 16, 2012, file photo, the Facebook logo is displayed on an iPad in Philadelphia. A propaganda expert who has studied Cambridge Analytica says the company helped Donald Trump’s presidential campaign use f...
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    Facebook is introducing more privacy safeguards to users in Europe to comply with new rules meant to make it easier for consumers to give and withdraw consent for the use of their data.More >>
  • In new walkouts, students look to turn outrage to action

    In new walkouts, students look to turn outrage to action

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    (AP Photo/Carolyn Kaster, File). FILE - In this March 14, 2018 file photo, young demonstrators hold a rally in front of the White House in Washington. Another wave of school walkouts is expected as students honor victims of gun violence and push for gu...(AP Photo/Carolyn Kaster, File). FILE - In this March 14, 2018 file photo, young demonstrators hold a rally in front of the White House in Washington. Another wave of school walkouts is expected as students honor victims of gun violence and push for gu...

    Another wave of school walkouts is expected as students honor victims of gun violence and push for gun control.

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    Another wave of school walkouts is expected as students honor victims of gun violence and push for gun control.

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  • UPDATE: Everything you need to know about Arizona's teacher walkout

    UPDATE: Everything you need to know about Arizona's teacher walkout

    Friday, April 20 2018 10:12 PM EDT2018-04-21 02:12:11 GMT
    Arizona teachers could be staging a strike, which may leave tens of thousands of parents scrambling. (Source: Raycom Media)Arizona teachers could be staging a strike, which may leave tens of thousands of parents scrambling. (Source: Raycom Media)

    One thing is certain, tens of thousands of parents will be forced to scramble to find out what to do if enough teachers walk out.

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    One thing is certain, tens of thousands of parents will be forced to scramble to find out what to do if enough teachers walk out.

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A plan approved by the federal judge overnight makes taxpayers 60% owners of the new General Motors.

Hundreds of people came forward asking the judge to reject the sale, but it did not happen.  Under this plan, General Motors will create a new company, and rid itself of debt and expensive contracts.

GM will be selling its most desirable assets, including the Chevrolet and Cadillac brands to a new company, 60% of which will be owned by taxpayers.

GM's Government backed plan to exit from chapter 11 bankruptcy protection now hinges on the sale. The treasury department vows to cut off the funding if the sale does not go through by July 10th.

This all comes after the carmaker filed for chapter 11 on June 1st, which was the fourth largest filing in US history. The company now plans to leave behind 16 plants, as well as other real estate in Delaware, Ohio, New York, Indiana, Pennsylvania, Virginia and Michigan.

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