Nov 7, 2008
General Motors may be short of cash in early 2009
General Motors may be short of cash in early 2009The U.S. automaker General Motors announced Friday that it might find itself at the beginning of 2009 with a level of liquidity does more to allow its normal operations.
"The estimated cash for the remainder of 2008 approaching the minimum required to run the company. For the first two quarters of 2009, even with the planned measures, liquidity will fall far below this level, except the strong recovery market or foreign aid, the manufacturer said in a statement.
This grim diagnosis was provided during the publication of losses much worse than expected for the third quarter.
Net loss for the number one U.S. amounts to 2.5 billion dollars for the three months completed by the end of September. But excluding the favorable impact of an agreement with the UAW union, the loss of manufacturer stands at 4.2 billion dollars, while a year ago it was limited to 1.6 billion.
Turnover has flowed from 13% to 37.9 billion dollars, slightly less than expected by the market waiting 39.41 billion.
by erectusplus at 9:20 AM |
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