GM Bailout: Billions to Put People Out of Work

GM says it needs more money from the federal government or it will run out of cash next month. It has made some progress with its creditors and the UAW, but neither of those negotiations is final, so some of what GM can do to cut costs and improve its balance sheet will have to be taken on faith. The parts of the GM restructuring the the company can claim are firm are the closing of some brands including Saturn and Hummer, the shutdown of several factories, and the firing of 47,000 people.

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