GM tells Feds to keep it

April 2009
InTech;Apr2009, Vol. 56 Issue 4, p41
The article announces that General Motors made arrangements to secure money to operate in March 2009 but the company has told the federal government instead, to keep the $2 billion they have planned to borrow. According to the article, this shows that GM still has enough money to operate. However, GM will still need the money because its cost-cutting moves and spending deferrals held off the need for more U.S. funds in March. It also reports that GM has borrowed $13.4 billion from the federal government to save the company from bankruptcy.


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