GM official: cash could run out by March 31

January 20, 2009 6:55:42 PM PST
General Motors Corp. Chief Operating Officer Fritz Henderson says his company will run out of cash before March 31 if it doesn't get the second installment of its loan package from the federal government. Henderson told the Automotive News World Congress Tuesday night that the company faces a daunting but liberating task in developing a viability plan to justify $13.4 billion in loans.

But he said GM simply has to work hard and get the job done.

Henderson also says GM will have four core brands in the future: Cadillac, Chevrolet, Buick and GMC. He also predicted that oil prices will rise rapidly once global economic activity recovers, justifying GM's electric car research spending.

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