Tough Road Ahead for GM
For mighty General Motors, the news could hardly be worse. The nation's biggest automaker said it lost $2.5 billion in the latest quarter as it was slammed by a slowing economy, global credit crisis and the effect of high energy prices.
The company is now going through cash at a rate of $2 billion a month and says that without help it will run out of money in 2009.
“This is not necessarily the end of the road for General Motors, but they can certainly see the end of the road from where they are right now,” said Aaron Bragman, an automotive analyst at consultancy Global Insight.
Without a federal bailout, GM could be looking at bankruptcy, he added.
The entire auto industry is in trouble, but GM appears to be in worse shape than its rivals....
http://www.msnbc.msn.com/id/27575144/
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Tata will come & Buy them and the new line of "Tata Hummers" will be on Doha Roads soon :)
Ban Spoon Feeding not Me
worse, i heard they need at least $50B loan..
and oh, not America's but the World's biggest car maker..
cheers,
paul