Bruce Nunnally Posted April 24, 2009 Report Share Posted April 24, 2009 GM confirmed today that it will draw an additional $2 billion in U.S. Treasury loans to maintain adequate liquidity as the company undergoes an aggressive restructuring. As indicated in GM's February 17 viability report to the U.S. Treasury, the additional funding will be consistent with projected incremental draws that GM could need in the 2nd Quarter of 2009. Today's loan draw will bring the total U.S. Treasury funding received to date to $15.4 billion. We appreciate President Obama's and his Administration's ongoing support of GM and the domestic U.S. auto industry as we undertake the difficult but necessary actions to reinvent our company. We will continue to work closely with members of the President's Auto Task Force throughout our reinvention and together we will continue to monitor our liquidity needs during this period. Bruce 2023 Cadillac CT4-V Blackwing Follow me on: Twitter Instagram Youtube Link to comment Share on other sites More sharing options...
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