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	<title>Midwestern Boy &#187; Business</title>
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		<title>GM&#8217;s bankruptcy has state impact</title>
		<link>http://midwesternboy.com/2009/06/01/gms-bankruptcy-has-state-impact/</link>
		<comments>http://midwesternboy.com/2009/06/01/gms-bankruptcy-has-state-impact/#comments</comments>
		<pubDate>Mon, 01 Jun 2009 16:16:53 +0000</pubDate>
		<dc:creator>JD</dc:creator>
				<category><![CDATA[Business]]></category>

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		<description><![CDATA[After a week of speculation, General Motors filed for Bankruptcy this morning. The American automaker was $172.8 billion in debt with roughly $82 billion in assets.

The Guardian posted a list of the top 50 creditors, which included one Wisconsin Corportation.]]></description>
			<content:encoded><![CDATA[<p><img class="alignleft size-full wp-image-332" style="border: 1px solid black; margin-left: 3px; margin-right: 3px;" title="images" src="http://midwesternboy.com/wp-content/uploads/2009/06/images.jpg" alt="images" width="118" height="118" />After a week of speculation, General Motors filed for Bankruptcy this morning.  The American automaker was $172.8 billion in debt with roughly $82 billion in assets.</p>
<p>The Guardian posted a list of the <a href="http://spreadsheets.google.com/ccc?key=rTMvawLzBkHnFB80H8kNj2Q&amp;single=true&amp;gid=0&amp;output=html">top 50 creditors</a>, which included one Wisconsin Corporation.</p>
<p>At number 12 on the list is Johnson Controls Inc. of Glendale.  According to the report, GM owes Johnson controls nearly $33 million.</p>
<p>This is just one of many Wisconsin companies that GM owes money to, but the biggest by far.  As more details of the bankruptcy emerge, we will undoubtedly hear more stories of local corporations  affected.</p>
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