GM Loads Up The War Chest With $16 Billion To Weather COVID-19

General Motors wants to withdraw roughly $16 billion from its credit facilities as a proactive measure against all the uncertainty revolving around global markets due to the COVID-19 pandemic.

This action will preserve financial flexibility and give the U.S. carmaker a strong cash position of about $15 billion to $16 billion at the end of March. GM is also suspending its 2020 guidance for the exact same reasons, just as Ford did last week.

Read Article

MDarringer - 3/24/2020 3:56:23 PM

0 Boost

When you have a gender-token idiot like Mary Barra running the show you get a car maker with virtually no compelling product, nor any future vision. So when a bump in the road happens, that negative impact exacerbates the stupidity of the leadership in place. Under her leadership, GM's reach and influence has imploded. She needs to resign. GM needs to find a merger partner yesterday. Geely?

qwertyfla1 - 3/25/2020 6:19:13 AM

+1 Boost

What? But Hussien was always right???

This is why you hire the best person for the job regardless of gender, sexuality, race etc and not to make quotas or to create some optical diversity bullshit. Let the cream raise to the top naturally. Can we get please back to common sense in this PC clusterfuck world? And for all the precious little snowflakes that want to call me racist -half my employees are visible minorities and the other half are seniors -otherwise unemployable due to their age but they still have wisdom, talent and old school skill that sadly can't be replicating with Gen Xers. -Age discrimination much? Im on a roll!