Bankruptcy Lawyers Indianapolis - blog
Bankruptcy Lawyers Indianapolis
Attorney Photo

Listen to Our Personal Message

Bankruptcy Lawyers Indianapolis - blog

FREE Special Report
Receive FREE Special Report

I Respect Your Email Privacy

May 15, 2008

GM May Look to Raise Additional Cash

Filed under: Uncategorized — admin @ 7:41 am

General Motors Corp. CFO Ray Young said that the company is open to raising additional financing to weather the auto industry’s current downturn, the Wall Street Journal reported today. Young said that the Detroit-based auto maker remains confident in its liquidity for 2008, but that GM’s North American operations are being pressured by strikes, supplier troubles, a slow U.S. market and high gasoline prices. The company believes its nearly $24 billion in available liquidity it now has is enough to run the business, fund capital projects and cover continuing worker-attrition programs, he said.

No Comments

No comments yet.

RSS feed for comments on this post. TrackBack URL

Sorry, the comment form is closed at this time.

Powered by WordPress