DETROIT -- General Motors exit today from bankruptcy wrapped up a 39-day process in Chapter 11 and came eight months after the automaker directly sought federal aid. Here are key events along the way.
Nov. 6, 2008: GM CEO Rick Wagoner, along with his counterparts at Chrysler LLC and Ford Motor Co., visit congressional leaders in Washington seeking rescue loans.
Nov. 7: GM reports fifth straight quarterly loss, warns it may run out of cash in early 2009.
Nov. 21: Congressional leaders rebuff automakers aid pleas, demanding they submit restructuring plans by Dec. 2 to have their requests reconsidered.
Dec. 19: After the Senate rejects a House approval for automaker aid, the Bush administration promises GM $13.4 billion in emergency loans to stave off bankruptcy. The funds come with a March 31 deadline for GM to prove its viability.
Feb. 17, 2009: GM requests up to $16.6 billion in additional federal loans, for a total of up to $30 billion, and says it will run out of cash by March without new funding.
March 12: GM says it can survive without the $2 billion advance it had requested to get through March while it revises its restructuring plans.
March 29: Under pressure from the Obama administration, Wagoner resigns.
March 30: President Barack Obama orders GM and Chrysler to accelerate restructuring efforts and brace for possible bankruptcy, saying neither has done enough to justify the taxpayer money it seeks. GM has 60 days to rework its survival plan. New CEO Fritz Henderson says a court-supervised restructuring in bankruptcy might be necessary.
April 23: GM says it will idle 13 North American plants for up to nine weeks in spring and summer to reduce inventory and avoid an "uncontrolled shutdown" at its bankrupt former parts subsidiary, Delphi Corp.
April 24: GM draws an extra $2 billion in government aid.
April 27: GM offers the government its final plan to reorganize outside bankruptcy by slashing about 90 percent of its bond debt, shedding about half of its 6,200 dealerships by 2014 and shutting three additional plants. The automaker says it will phase out Pontiac by the end of 2010 and stop producing Saturn models as soon as the end of this year. A sale of the Hummer SUV brand remains a "reasonable likelihood," Henderson says.
May 11: Henderson says bankruptcy is "more probable."
May 15: GM tells 1,124 dealerships it doesn't plan to renew their franchise agreements when they expire in October 2010. A second round of letters to dealers increases that number to about 1,380.
May 21: The UAW says it has a deal with GM. Terms revealed later show the union will accept stock and new debt in place of half the $20 billion GM owes the unions health care trust for retirees. The accord, approved by members a week later, includes the automaker's taking control of five plants owned by Delphi. It also cuts the union's proposed stake in the restructured automaker by more than half, to 17.5 percent.
May 23: GM gets an additional $4 billion in loans from the U.S. Treasury Department.
May 25: The Canadian Auto Workers says its members voted to cut GM's Canadian labor costs to about $57 Canadian ($49.04 U.S.) an hour. Thats a reduction of as much as $23 Canadian, counting previously agreed-to reductions.
May 27: GM says its bondholders have rejected an offer of a 10 percent stake in the company in exchange for wiping out $27 billion in bond debt.
May 28: In a new offer to bondholders, Obama administration officials say the federal government will inject an additional $30 billion into GM on top of the $19.4 billion the government has lent it. The offer, later approved, calls for bondholders to get a 10 percent equity stake in the new company.
May 30: A consortium led by Canadian supplier Magna International Inc. signs a memorandum of understanding to buy 65 percent of Adam Opel AG, which is acting as an umbrella company for all GM Europe operations except Saab.
June 1: GM files for bankruptcy protection, 100 years and 258 days after its founding.
June 2: GM says it plans to sell its Hummer brand to Chinese equipment manufacturer Sichuan Tengzhong Heavy Industrial Machinery Co.
June 5: GM says Penske Automotive Group has signed an agreement to purchase Saturn by the end of the third quarter.
June 8: GM says it will shut down its medium-duty truck business by July 31 after a four-year search failed to find a buyer.
June 9: Ed Whitacre, former CEO of telecommunications giant AT&T, is selected to chair the new company after its bankruptcy. Other GM board members will include Kent Kresa, who served as interim chairman, and current board members Henderson, Philip Laskawy, Kathryn Marinello, Errol Davis Jr. and E. Neville Isdell.
June 16: Sweden's Koenigsegg Group AB, maker of million-dollar sports cars, says it has a deal to buy GMs Saab brand.
June 18: The UAW says Steve Girsky, a former Wall Street analyst who worked briefly for GM, will fill the unions seat on the new GMs board.
June 26: GM says it will make its new small car in Orion Township, Mich., dashing hopes in Spring Hill, Tenn., and Janesville, Wis., that the car will keep one of their factories alive. GM had agreed to build the car in the United States in return for UAW concessions.
June 29: GM says it will drop its 25-year-old California joint venture with Toyota Motor Corp. after the automakers could not agree on a vehicle to replace the Pontiac Vibe at the shared plant. In court, GM also agrees to accept liability for future product defects.
July 5: Judge Robert Gerber of U.S. Bankruptcy Court in Manhattan approves GMs exit from Chapter 11, putting a four-day stay on his order to allow for appeals.
July 7: Gerber denies requests from accident litigants and asbestos victims to appeal his decision to the 2nd U.S. Circuit Court of Appeals in New York.
July 10:GMs best assets emerge from bankruptcy as part of a new company. The U.S. Treasury owns 60.8 percent of the new GMs common stock, the Canadian government 11.7 percent, a UAW-run health care trust 17.5 percent and GM bondholders 10 percent.
Reuters contributed to this report.