GM post $9.6 billion loss for 4Q
27-02-2009
The struggling American automaker, General Motors, has posted a 9.6 billion US dollar fourth-quarter loss. This brought its losses for the whole of 2008 to almost 31-billion dollars. GM said it now expects an opinion from its auditors as to whether the company remains a "going concern" when its annual report is issued in March. The company has received 13.4-billion dollars in federal loans so far this year and says it needs up to 30-billion dollars more to stay out of bankruptcy. Top GM executives were in Washington today to meet with the Obama administration's auto task force to discuss further loans.
