GM gets to dump its polluted siteshttp://www.freep.com/article/20090807/BUSINESS01/908070382/GM-gets-to-walk-away-from-its-polluted-sitesDetroit Free Press
When General Motors Co. emerged from bankruptcy, it was freed of obligations for polluted properties at discarded plant sites that will require millions of dollars to clean up.
Advertisement
GM’s unusual, government-engineered bankruptcy allowed the Detroit automaker to emerge as a new company — and to shed billions in liabilities, including claims that governments had against GM for polluting.
Environmental liabilities estimated at $530 million were left with the old GM, which has only $1.2 billion to wind down.
Administrative fees and other claims will soak up that money, and state and local officials told the Free Press they fear the cleanups will be shortchanged.
(more)
Any bets on this stuff getting cleaned up any time soon?