GM Spent 10.2 Billion in First Quarter

GM has spent 10.2 billion in operating cash in the first 3 months of this year with revenues falling by half.

GM lost 6 billion and was twice as bad as same period last year.

GM has until June 1, 2009 to restructure its debts or face chapter 11 bankruptcy.

GM said it needs 11.6 billion in government aid to make it through to the end of  the year.

Without government help the risk of bankrupty is much higher.

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Posted by blogadmin on May 9 2009. Filed under Car Reviews. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.