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Old 21-10-2010, 08:33 PM   #1
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Join Date: Aug 2005
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Post 'Old GM' asset sell-off includes... an abandoned Indiana church and a golf course?!

Filed under: Auctions, Government/Legal, Plants/Manufacturing, GM

Attention is focused on the new General Motors, but behind the scenes the dismantling of the old GM, now known as Motors Liquidation Co., continues. Last week another auction was held in a series of highest-bidder events going back to September of 2009. The Livonia engine plant, home of Northstar V8 assembly among other things, had its old machinery and mementos sold to buyers around the world. The property itself, however, wasn't sold.

And as with any garage sale, even one spread among 14 states, there are things you wouldn't expect to find among the booty, like an abandoned Indiana church and a New Jersey golf course. The golf course we can understand. The church has our curiosity turning over all kinds of scenarios. The next auction will be November 4 at the Pontiac Assembly plant, each one doing its small part to address Motors Liquidation Co's $275 billion in debts in addition to funds needed for toxic site cleanups

[Source: Detroit News | Image: Stan Honda/AFP/Getty Images]'Old GM' asset sell-off includes... an abandoned Indiana church and a golf course?! originally appeared on Autoblog on Thu, 21 Oct 2010 08:28:00 EST. Please see our terms for use of feeds.

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