GM risks bankruptcy over $1B payment; Freddie Mac's Kellerman dies
CBS
Transcript
General Motors says it won't be able to make a 1 billion dollar debt payment that's due june first GM may have to resort to bankruptcy court if it can't raise the money to make the payment that news put a dent in an early market rally in the dow jones industrial average lost 83 points on the day the nasdaq though squeezed out a two-point game the acting chief financial officer of mortgage giant Freddie Mac has been found dead at his home police say 41 year-old David Kellerman was found hanging in his basement and apparent suicide the police would not say if there was a note he leaves behind a wife and five year old daughter Kellerman became CFO of Freddie Mac in September shortly after the government seized the company and gave it 30 billion dollars in aid the world economy is expected to shrink this year for the first time in six decades the International Monetary Fund predicts the global economy will fall one-point-three percent and more consumers chose discount meals at mcdonald's at the beginning of the year the fast-food chain says profits climbed about four percent last quarter to just under a billion dollars beating Wall Street's expectations for more business headlines log onto CBS moneywatch.com in New York I'm Alexis Christopher asst