GM Hemmoraging, Needs $16.6Bn For Any Hope of Survival

by Benjamin Domenech on 12:00 am February 18, 2009

Following the blackened tread marks of Chrysler, these loans barely begin the recovery process for GM (if at all – Saturn and Hummer are gone anyway). In plans delivered to Treasury, both companies argue that taxpayer-funded restructurings are still better than bankruptcy, as in that case GM may require as much as $100Bn in financing.

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