Chuck
10-22-2008, 05:29 PM
The global credit freeze threatens to send U.S. auto sales to a 27-year low, speeding GM's cash burn. (http://www.bloomberg.com/apps/news?pid=20601087&sid=ai3v89S35u3w&refer=home)
http://www.cleanmpg.com/photos/data/501/GM_Logo1.jpgBloomberg - Oct. 22, 2008
They insist they won't go bankrupt - Ed.
General Motors Corp. may initiate a new round of cost cuts because a planned $15 billion in asset sales and savings won't be enough to maintain its liquidity amid deteriorating sales, people familiar with the matter said.
The deliberations come as GM is in talks on a merger with Chrysler LLC that may provide access to Chrysler's $11.7 billion in cash.
Sales in the U.S. and Europe have dropped more than GM anticipated, spurring the effort to reexamine spending four months after its last effort was announced, said the people, who asked not to be named because the discussions are private. GM may give an update on the liquidity plan when it releases third- quarter results, the people said… http://www.bloomberg.com/apps/news?pid=20601087&sid=ai3v89S35u3w&refer=home
http://www.cleanmpg.com/photos/data/501/GM_Logo1.jpgBloomberg - Oct. 22, 2008
They insist they won't go bankrupt - Ed.
General Motors Corp. may initiate a new round of cost cuts because a planned $15 billion in asset sales and savings won't be enough to maintain its liquidity amid deteriorating sales, people familiar with the matter said.
The deliberations come as GM is in talks on a merger with Chrysler LLC that may provide access to Chrysler's $11.7 billion in cash.
Sales in the U.S. and Europe have dropped more than GM anticipated, spurring the effort to reexamine spending four months after its last effort was announced, said the people, who asked not to be named because the discussions are private. GM may give an update on the liquidity plan when it releases third- quarter results, the people said… http://www.bloomberg.com/apps/news?pid=20601087&sid=ai3v89S35u3w&refer=home