That's right! General Motors, as of today (Friday) has exited bankruptcy protection. They spent the night signing tons and tons of papers authorizing cash transfers, real estate transfers, and the transfers of technology and other property.

So, 61% of this new GM is owned by the U.S. government. And it's coming out of bankruptcy protection and into the insanely competitive auto market that's in a fantasticly terrible sales slump right now. Great.

And at a press conference today, GM CEO Fritz Henderson is expected to announce that GM will cut another 4,000 jobs, 450 of which will be top executives. Bummer. 

So... great they made it to the other side of Chapter 11... super sucks they're letting people go.