Monday, March 2, 2009
GM looses $30.9 billion in 2008
GM who announced last week that it lost $30.9 billion in 2008 and $9.6 billion in the last quarter alone, is saying that it needs $11 billion to $14 billion in cash to fund its day to day to day operations.
Having already received $13.4 billion in federal bailout money last year, GM is now requesting as much as $16.6 billion from the new administration.
After years of successfully selling lemons to the American people, it seems now that the only one willing to listen to GM's sale pitches, is the federal government.
Having already received $13.4 billion in federal bailout money last year, GM is now requesting as much as $16.6 billion from the new administration.
After years of successfully selling lemons to the American people, it seems now that the only one willing to listen to GM's sale pitches, is the federal government.
Labels: federal bailout, GM $30.9 billion loss, Obama administration., U.S. auto industry
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