GM showed that it is drifting toward greater financial trouble when it drew down on its line of credit yesterday. According to The Wall Street Journal, GM "said it intends to draw down the remaining $3.5 billion of an existing $4.5 billion secured revolving credit facility to boost its liquidity amid uncertainty in the capital markets."
this is yet another example of GM not doing so well i really believe they are depending on the federal loan for the company's survival.
http://www.bloggingstocks.com/2008/09/20/gm-falls-deeper-into-the-hole/print/
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