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GM Puts the Brakes on $370 Million Chevy Volt Plug-in Hybrid Engine Factory
- mikeyur 18y agoI think using 'pulls the plug on' would've made a slightly more comedic title.
- pchristensen 18y agoSlightly more? This guy should lose his Headline Writers Guild membership card for passing that up.
- mdasen 18y agoGM is having trouble meeting payroll (or will be soon). They need to conserve cash. I'm not happy that they've put this plant on hold and do expect a delay of at least a few months for the Volt because of it, but I can understand why they're doing it. They're trying to control their burn rate (of cash). We really need credit markets to free up. Banks need to lend again.
- anamax 18y ago> They're trying to control their burn rate (of cash). We really need credit markets to free up. Banks need to lend again. You seem to be assuming that lending to GM makes sense. Can GM repay new loans?
- elviejo 18y agoHe probably means that we need banks to start lending again, to give car credits not a direct loan to GM. In the past year their sales are down ~40% for comparison Toyota's are down ~30%
- bigbang 18y agoGM should put a brake on itself and save my tax money.