GM Takes Another Look at Daewoo

Detroit - There has been no official word from General Motors, but a hopeful group consisting of Korean government officials, creditors and management of Daewoo say there is a team of G.M. negotiators traveling to Korea this week to discuss buying Daewoo. This comes as a surprise as most believed that GM had already made a decision on the troubled automaker, and that decision was the same as the one Ford made last year -- too much debt.

One possible reason for the meeting may be to discuss the results of a report Daewoo management recently received from Arthur Anderson Research. That report makes a recommendation that Daewoo's main plant near Inchon be shut down. It's not known what that would mean to the company, which has already cut over 6,000 jobs, but it could make the financially strapped automaker more attractive to a potential buyer.