GM May Look to Raise Additional Cash
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.

