Archive: october 24, 2008

GM may use profits from China to float North American operations

GM may use profits from China to float North American operations Filed under: China, GM, Earnings/Financials
Big Bob Lutz said that GM declaring bankruptcy is "out of the question." Of course, that was two years ago, when things like a $25 billion government loan would have sounded ludicrous. That was also before the auto industry mess got messier, and in order to stay true to those words today, GM is doing whatever it has to do to find money to stay in business. It heard Chrysler has an $11 billion piggy bank and a couple of jewels (Jeep and minivans) and GM said "Come here, girl! Lemme holla at you for a minute!"Now GM is looking at its own international stable...

View full article at "Autoblog"


Tags: AutoSales, GM, GmChina, GmLoan, auto sales, china, earnings, financials, gm china, gm loan



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