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Updated from Thursday, July 9
General Motors(GMGMQ. Quote) has emerged from bankruptcy protection after signing papers to transfer the bulk of its assets to a new, leaner company majority-owned by the U.S. government, according to reports.
A person who asked to remain anonymous because the action hasn't been officially announced, said Friday the action came at 6:30 a.m. EDT, the Associated Press reports.
The bankruptcy of GM will long be remembered for one thing: speed.
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