GM in line for another $5B
Wednesday, April 22, 2009 : PermalinkCape Cod Times – General Motors Corp. could get as much as $5 billion more in federal loans, while Chrysler LLC could get $500 million as they race against government-imposed deadlines to restructure, according to a government report filed yesterday.The quarterly report by a special inspector general on the auto industry and bank bailout programs says the money will be made available for working capital. GM has until June 1 to complete restructuring plans that satisfy the government’s auto task force, while Chrysler has until April 30
Tags: auto industry, bank bailout, cape cod, cape cod times, chrysler, federal loans, general motors corp, general-motors, gm, government-report, money, quarterly report, restructuring, task force, working capital
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