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Home Front Economy
GM says could seek further US loans
2009-01-12
DETROIT, Jan 11 (Reuters) - General Motors Corp Chief Executive Rick Wagoner said the struggling automaker had enough funding to last through March but could still seek additional U.S. government loans beyond the $13.4 billion it has already been pledged. Wagoner, speaking to reporters at the Detroit auto show, also said GM was still seeking a potential buyer for its Saab brand. "We're still looking," he said.

GM had warned that it was at risk of running out of cash before the Bush Administration cleared its request for emergency funding just before the end of the year. In recent weeks, some reports have said GM executives believed the $13.4-billion in U.S. government loans would allow the automaker to survive even under its most dire forecasts for the U.S. market in 2009.

But Wagoner indicated GM could still opt to seek additional funding after a March review with U.S. officials intended to assess its progress in restructuring.
Posted by:Steve White

#14  GM is just an HMO that sells shitty used cars on the side.
Posted by: Flease and Tenille aka Broadhead6   2009-01-12 21:59  

#13  What the Hare said. (and I come from a union family in Detroit)
Posted by: Flease and Tenille aka Broadhead6   2009-01-12 21:57  

#12  why not give GM a boat and let them pirate in the gulf of aden... seems a much more profitable line of work
Posted by: Abu do you love   2009-01-12 16:42  

#11  These companies can't go under fast enough to suit me.
Posted by: DarthVader   2009-01-12 16:26  

#10  They could park them by the FEMA trailer houses in Arkansas.
Posted by: bman   2009-01-12 15:48  

#9  Why doesn't big poppa gov just buy the danged cars to "bail them out"?
Posted by: Grenter, Protector of the Geats   2009-01-12 14:46  

#8  besoeker, you better worry you are startiing too think alot like the voices in my head think
Posted by: rabid whitetail   2009-01-12 12:30  

#7  Nobody bailed out Studebaker or US made Schwinn bicycles. I've bought GM and Ford all my life. We've done our part already. If they can't make a profit, phuech'em. NEXT!
Posted by: Besoeker   2009-01-12 11:01  

#6  The American taxpayer is now considered a tax serf to include his/her children and grandchildren literally bonded to the rolls [and Treasury Bills] so that the extended family of special interest groups who own and operate one political party can be kept in the manner they've become accustomed to. We are watching the future being sold out to preserve the past.
Posted by: Procopius2k   2009-01-12 10:22  

#5  fuck you. go out of buisness already
Posted by: rabid whitetail   2009-01-12 09:12  

#4  Does anyone actually think the UAW will negotiate in good faith knowing that the Dems they have bought and paid for are coming to power? If the UAW won't get in line with non-union labor, I will NEVER buy a UNION made vehicle again. My next car will be a Toyota.
Posted by: AllahHateMe   2009-01-12 08:53  

#3  Not enough rust?
Posted by: Bright Pebbles   2009-01-12 08:53  

#2  That picture's not a GM vehicle.
Posted by: Glenmore   2009-01-12 08:26  

#1  Now THERE's a shock.

Who could have ever seen THAT coming?
Posted by: Whiskey Mike   2009-01-12 07:34  

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