Today GM's board of directors is meeting for the second day to talk about its plan. Meanwhile a Canadian auto parts supplier is coming to the rescue of the company's European subsidiary "Opel."
A Russian company, GM and Opel employees will also own shares in Opel.
Yesterday, the United Autoworkers Union agreed to major cuts to the fund that covers health care costs for retirees.
But it's not enough to keep General Motors out of bankruptcy.
Fredricka Whitfield spoke with Automotive Analyst Lauren Fix about what this means to you.