Oh and By The Way . . .
May 6th, 2009 6:38 PM Share
In its report on GM’s new new new new new new turnaround plan, Reuters reminds us that GM’s going to the well one more time—before it goes to the well again.
The automaker said it expected to draw another $2.6 billion from the U.S. Treasury before a June 1 deadline set by the Obama administration for it to reach agreements with all of its key stakeholders.
Published May 6th, 2009 9:31 AM
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4 of 9 comments
We don't have to imagine it. They did already.
So are they still pretending to call it a loan, or have they finally dropped the pretense of paying the money back, like Chrysler?
Yes, Redbarchetta, but what if, at the end of that month, you weren't allowed to hold any assets of any monetary value? Brewster's Billions! Oh wait, you'd just buy Chrysler or something, nevermind!