Here's something interesting to watch over the next couple of weeks -- General Motors Corporation has quietly purchased a couple of domain names that you may want to monitor as the June 1st government-imposed deadline approaches: gmrestructuring.com and gm-restructuring.com.
As of today, there's no information on either of the pages; however, if GM fails to meet the government deadline (now, just two weeks away) those sites could be a place for GM to post bankruptcy documents and perhaps even a place to hold discussions after the filing -- a public docket.
For GM, is filing for Chapter 11 bankruptcy protection avoidable? Theoretically, yes. Probable, no. So what would GM have to do to stay out of this mess? According to Tom Hals at Reuters, it would have to "restructure its bond debt, cement concessions with its union and show it can be viable." As we all know, things aren't necessarily looking so good for the U.S. auto giant right now, and these newly registered addresses just add more fuel to the fire.
Strange as this recent online move may seem, Chrysler did the same thing just about a month ago when Epiq Corporate Restructuring registered chryslerrestructuring.com. If you haven't been there yet, it might be worth a few minutes to find out the current status of Chrysler's restructuring efforts and to get an idea of what to expect on GM's similar page when (if) the company files.
Publically, GM continues to indicate that it's going to reorganize without bankruptcy; however, if you think about the company's actions over the past few weeks (or months) you'll see the actions contradict the words. Either way, whatever happens over the next two weeks is bound to be dramatic and headline-grabbing news, so stay tuned.