Thursday, November 27, 2008
GM considers dropping Saab
GM was not immediately available for comment.
U.S. lawmakers last week rejected pleas from GM, Ford Motor and Chrysler for $25 billion of loans, and asked the automakers to submit detailed turnaround plans.
The lawmakers are scheduled to reconvene during the week of December 8 to review any plans and consider aid. Some analysts have said GM's remaining equity value could be essentially wiped out by any government recapitalization.
GM has said it might run short of operating cash by early 2009.
DATED: 27.11.08
FEED: ANE