GM decides not to borrow $14.4 billion from US
General Motors Co. is withdrawing its application for $14.4 billion in low-interest loans from the Department of Energy, saying it has enough liquidity to modernize its plants itself to build fuel-efficient vehicles.The move is part of GM’s plan to eliminate most of its debt and fully fund its pension plans. After receiving $50 billion in government aid in 2008 and 2009, the post-bankruptcy …
Published Feb 4, 2011.
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