GM 'needs US$12 bn loan to keep going'
03-12-2008
The American car giant General Motors has said it needs US$12 billion in loans from the US government and another US$6 billion in credit, in order to keep operating. It's also planning to shed up to 30,000 jobs by 2012. The three main US car makers have been trying to negotiate a US$25 billion emergency loan from the government. The chief executives of GM and Ford are offering to work for a salary of one US dollar a year.
