Friday, March 06, 2009

Kicking the GM Bankruptcy down the road

GM now more open to bankruptcy after audit?

From the Australian News this several month delay has been a bit pricey:

The auditor's finding could also complicate GM's effort to get additional bailout loans from the US Government and other governments around the world. GM has so far borrowed $US13.4 billion from the US Treasury and has asked for as much as $US16.6 billion more. It is also seeking €3.3 billion ($6.5 billion) in loans from the German Government.

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