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GM says it doesn't need $2B from gov't in March
Thursday March 12, 5:46 pm ET
By Tom Krisher, AP Auto Writer
GM says it won't need $2B loan installment this month, as cost cuts cool automaker's cash burn
Quote:
DETROIT (AP) -- It's not as good as black ink, but General Motors' news that it doesn't need government loan money this month is a sign that it is finally starting to bring its gargantuan expenses under control.
GM Chief Financial Officer Ray Young said Thursday that the struggling automaker's fortunes have improved to the point that it won't need the $2 billion March installment, despite the request the company made less than a month ago.
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http://biz.yahoo.com/ap/090312/gm_bailout.html
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