In the final days before the government imposed June 1^st deadline to complete restructuring, it appears the companies efforts have failed. In a regulatory filing on Tuesday, the company warned that it does not expect to complete deals with the UAW, CAW and U.S. Treasury which was part of the a larger plan to resolve outstanding bond holder debt. GM had hoped concessions from the unions would allow it to convert bondholder’s debt for stock in a reconstituted GM by a May 26^th deadline. A latest sticking point has been proposed plans by GM to import smaller more fuel efficient cars from China, South Korea, Japan and Mexico for sale in the U.S. In addition to concerns voiced by the unions, Senator’s expressed their dissatisfaction with the plan during a Senate Banking Committee meeting. Although Treasury Secretary Geithner explained that the Obama administration was trying not to get involved in decisions by GM and Chrysler regarding plant or dealership closings, Senators expressed concern over the image of U.S. tax dollars being used to assist auto companies in building manufacturing plants overseas. In response, Geithner argued that the Administration’s efforts have prevented plant and dealership closings on a massive scale and provided GM and Chrysler the best opportunity for long term survival.