GM has "Plan B" in the works if Feds don't come through with cash
GM has already taken billions of dollars out of of its operating costs over the past year, with thousands of job and production cuts, plant closings, and the sale of non-core assets. Those actions were thought to be enough to stem the General's cash burn, but when car sales came to a screeching halt in the third quarter, it became apparent that more serious reductions were needed. GM, Ford, and Chrysler go back to Congress on December 8th to plead its case for low cost government loans. If that meeting goes as well as the first one, plan B may actually see the light of day.
[Source: Automotive News - subs req'd]
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