Since the amount of financing provided to General Motors Co. was sufficient, it has no plans to request more government aid, CEO Fritz Henderson told the Washington Post last Wednesday. Henderson was in Washington for meetings with congressional and Obama administration officials.
Henderson said during the interview that reasonable scenarios that GM is expected to face don’t involve the need for more assistance. Henderson said that GM continues to provide information of the status of the business to the US Treasury, which is a major shareholder. The US Treasury now holds a 60% stake in GM after giving it $50 billion in bailout and bankruptcy assistance but GM emphasizes that the Treasury is not involved in the business.
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