GM Borrows More

By: Associated Press
By: Associated Press

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.

Will GM Get A Deal From Its Bondholders By June 1?

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  • by JB Location: Jackson on May 24, 2009 at 12:31 PM
    That's the ticket just keep pooring more money into a sinking ship. They need to be cut off and cut anymore losses now. At this rate they will have so much money borrowed they will never to pay this back. It is a lost cause so don't waste anymore money on they..
  • by Nancy Location: Elsie on May 23, 2009 at 10:17 AM
    I hope that GM can save the business. What I cant figure out is these CEO's that are paid these high salarys but yet the companies are going down. Apparently, they aren't worth all that money. Anyone off the street could run a company into bankruptcy and be paid a lot less money. If you have someone running your company and your paying them that much then the company should not be having all this trouble.
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