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An online auction consisting of over four hundred pieces of GM assembly equipment from the Janesville WI Assembly Plant was held last week, hosted by a Michigan-based auction house, "Maynards". The auction consisted of items both high and low tech. General Motors had recently salvaged many parts of the plant which were then shipped to other facilities within the GM family. The remaining pieces of equipment were then auctioned off. Why the need to auction this equipment off? GM owes the U.S. Treasury a sizable amount of money due to their recent bailout...$13.5 billion dollars in fact.The online auction has now ended, and General Motors was not willing to disclose the items' appraised values or how much the company made on the auction. Successful bidders have been told to pick up their items by June 25th.
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