GM has no plans to request more government aid

Since the amount of financing provided to General Motors Co. was sufficient, it has no plans to request more government aid, CEO Fritz Henderson told the Washington Post last Wednesday. Henderson was in Washington for meetings with congressional and Obama administration officials.

Henderson said during the interview that reasonable scenarios that GM is expected to face don’t involve the need for more assistance. Henderson said that GM continues to provide information of the status of the business to the US Treasury, which is a major shareholder. The US Treasury now holds a 60% stake in GM after giving it $50 billion in bailout and bankruptcy assistance but GM emphasizes that the Treasury is not involved in the business.
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Hantra - 10/30/2009 11:04:01 AM

+2 Boost

They don't need more government aid. Just keep an eye on GM shares. Watch the volume explode. That's exactly what has happened to the banks for the past few months. There is no political will for more bank money, so how do you do it? Buy billions of shares. This will happen with GM.

thstone - 11/2/2009 1:21:15 PM

+1 Boost

First, I sure wish someone at GM would disclose the "reasonable scenarios" that their analysis is based on.

Second, if the Gov has recouped its investment on GM shares, why don't they sell them? Why hold onto such a risky investment?