GM was asked to file for Chapter 11 bankruptcy to reduce debts by allowing courts to force bondholders and unions to reach settlements (Wikipedia, 2015). GM was given 60 days to restructure the company. CEO Rick Wagoner agreed to resign immediately as part of the restructuring plan. In June 2009, GM filed for bankruptcy, reporting $82.3 billion in assets and $172.8 billion in debt. It was the fourth largest deposit in US history after Lehman Brothers, Washington Mutual and Worldcom. GM was then removed from the Dow Jones Industrial Average (Wikipedia, 2015). In July 2009, General Motors Corp had changed its name to General Motors Company from the US Treasury, NGMCO Inc and had invested up to $50 billion, owning 60% of the shares and the Canadian government owned 12.5% (Wikipedia, 2015). The newly re-emerging GM is a smaller, leaner company than its predecessor. It only has four brands in the United States which include Chevrolet, Buick, GMC and Cadillac. It managed to issue an initial public offering on the New York Stock Exchange in 2010 (GM.com,