General Motors plans US overhaul amid bankruptcy talk


	General Motors plans US overhaul amid bankruptcy talk

JICWyllie

7-9-2008 10:20 AM

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tags:

economy, manufacturing, i-insolvancy, i-risk, energy, oil, i-demand, i-decrease

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0a35a8bd-f042-4bca-a4cd-e2463f3145a5/49DD9DEE-B026-450C-BDE6-2C164C199BFB/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article4289511.ece" href="http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article4289511.ece" style="font-size: 11px;">business.timesonline.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article4289511.ece"><P>
General Motors, the world's biggest carmaker, is considering thousands of job
cuts in a radical restructuring of its North American business as it
struggles with a dire domestic market.
</P><P>
It is facing increased fears over its financial stability, with Merrill Lynch
warning that bankruptcy was “not impossible” if the company did not secure a
cash injection of $15 billion (£7.6 billion) and if the home market weakened
further.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article4289511.ece">
Last week GM suffered an 18 per cent drop in American sales for June, but its
figures held up better than those of Ford, which plunged 28 per cent.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/49DD9DEE-B026-450C-BDE6-2C164C199BFB/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>