Railroaders place to shoot the shit.

Members Login
Username 
 
Password 
    Remember Me  
Burning Journal -> Politics -> GM obviously needs more money
Post Info TOPIC: GM obviously needs more money
Troll


500 - Internal Server Error

Status: Offline
Posts: 36516
Date:
GM obviously needs more money
Permalink  
 

GM Chief: Bankruptcy Probable

images_image_281093753.gif CBS News Interactive: About Detroit's Big 3 Bailout

DETROIT (AP)
Related Stories

Related Links

General Motors Corp. Chief Executive Fritz Henderson says bankruptcy isn't the company's preferred option, but it's still probable, given the restructuring goals GM must meet to get more government loans.

In a conference call with reporters Friday, Henderson said GM is working on two parallel plans: one that involves bankruptcy and one that doesn't.

GM has already received $13.4 billion in aid, and it must meet strict requirements to cut labor costs and debt by a June 1 deadline. Henderson says the company will be prepared to file for bankruptcy if it is unable to reach those goal out of court.

Henderson also says the company will not sell its ACDelco parts division.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Bill Pugliano/Getty Images
Fritz Henderson, the new Chief Executive Officer of General Motors, holds a news conference at GM World Headquarters March 31, 2009 in Detroit.

Bill Pugliano/Getty Images



__________________

© Equal Opportunity Annoyer

Troll The Anti-Fast Freight Freddie

 

 

 

 
Freddie Krueger


Unstable & Irrational

Status: Offline
Posts: 10782
Date:
Permalink  
 

I am still trying to wrap my head around the trickled down effect this will have.

__________________

I started ophph with nuthin, and I can safely say I have most of it left....
<img
Calvin


Upgraded Condition?

Status: Offline
Posts: 9215
Date:
Permalink  
 

251.gif

__________________

 This is the official end of my post.  
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
Burning Journal -> Politics -> GM obviously needs more money
Chatbox
Please log in to join the chat!