GM won’t make debt payment, bankruptcy ‘probable’ - The Business Journal of Milwaukee:

GM won’t make debt payment, bankruptcy ‘probable’ - The Business Journal of Milwaukee:: "General Motors Corp. won't make its $1 billion debt payment on June 1, and it is looking for a debt-for-equity exchange or court protection to lower its debt.GM chief financial officer Ray Young said a trip to bankruptcy court is “probable,” the Wall Street Journal reported. GM is trying to reduce its $28