5.08.2009

The GM caper


The U.S. government is pouring billions into General Motors in hopes of reviving the domestic economy, but when the automaker completes its restructuring plan, many of the company's new jobs will be filled by workers overseas.

[From Under Restructuring, GM To Build More Cars Overseas - washingtonpost.com]

And...



The federal government reported yesterday that the financing arm of General Motors will need to raise $9.1 billion in new capital...



The government could end up providing much, if not all, of the needed capital....

[From U.S. Orders GMAC to Raise $9.1 Billion in Capital - washingtonpost.com]



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