Running on fumes: GM could soon run out of cash
DETROIT The American auto industry is running on fumes. General Motors, the nation’s largest automaker, warned Friday that it may run out of money by the end of the year after piling up billions in third-quarter losses and burning through cash at an alarming rate. Ford sustained heavy losses, too.
The situation is so severe, GM has suspended talks to acquire Chrysler and is appealing to the government for help as the slumping economy drags cars sales to their lowest level in a quarter century.
GM Chairman and CEO Rick Wagoner said the company will “take every action” possible to avoid bankruptcy.
Go get the new article and read it… you can thank me later. Here’s the link: Running on fumes: GM could soon run out of cash
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Posted by Carlos Sagastume on November 8, 2008. Filed under HUD Homes.
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