General Motors world headquarters is shown in Detroit, in this Tuesday, April 21, 2009 file photo. (AP Photo/Paul Sancya, File)
Advertisement
GM borrows another $4 billion from govt
General Motors had already borrowed $15.4 billion
Updated: Friday, 22 May 2009, 6:03 PM EDT
Published : Friday, 22 May 2009, 5:59 PM EDT
NEW YORK (AP) - General Motors Corp. says it has borrowed an additional $4 billion from the U.S. government.
GM had already borrowed $15.4 billion and previously said it would need to borrow an additional $2.6 billion more by June 1. But in a regulatory filing Friday, GM says it needs an extra $1.4 billion before that date.
The company borrowed the additional money Friday.
Because it is borrowing more money now, GM says it now will need $7.6 billion in loans after June 1, instead of $9 billion.
Friday's loan installment means GM has now borrowed $19.4 billion from the Treasury Department.
Opinions that are derogatory, attack other users, offer unsubstantiated facts or are offensive in nature can and will be removed as defined by the Terms of Service. WOOD is not responsible for the content posted in this comment section. We reserve the right to remove any offensive or off-topic remark or thread. To mark a comment for review by a moderator, click "Report."
Email This
PrintThis
View Story on a Single PageAdvertisement
Advertisement