GM may get more money

[Bindare_Dundat]

http://finance.yahoo.com/news/GM-Chr...-14366460.html

The Treasury Department has committed to giving GM a total of $13.4 billion if the automaker's plan is approved. GM's plan, however, will raise the possibility that more government loans may be needed, as sales in overseas markets have deteriorated worse than expected, according to a person briefed on the plan.

That means GM may seek another $5 billion, raising the loan amount to about $18 billion, the amount that GM sought when it made a presentation to Congress in December. The company will discuss bankruptcy in its plan but will emphasize using loans to get through the sales slump, said the person, who spoke on condition of anonymity because the preparations are private.

[tonymctones]

http://finance.yahoo.com/news/GM-Chr...-14366460.html

The Treasury Department has committed to giving GM a total of $13.4 billion if the automaker's plan is approved. GM's plan, however, will raise the possibility that more government loans may be needed, as sales in overseas markets have deteriorated worse than expected, according to a person briefed on the plan.

That means GM may seek another $5 billion, raising the loan amount to about $18 billion, the amount that GM sought when it made a presentation to Congress in December. The company will discuss bankruptcy in its plan but will emphasize using loans to get through the sales slump, said the person, who spoke on condition of anonymity because the preparations are private.

dont worry obama will make sure that the CEO only gets 500k for salary when they rob us blind again...oh but that doesnt include stock options or anything else, wtf?

[Hereford]

Good thing.... The unions are due for a 7% cost-of-living raise this year...