Spiga

GM Says WON'T go Bankrupt

Lutz told reporters the threat of bankruptcy at GM was "absolutely out of the question -- totally out of the question" and said GM was "taking the necessary steps to right this ship."
"An across-the-board competitive health-care plan for salaried and hourly employees could literally save us billions," Cowger said. Health-care costs, added Lutz, are "a huge albatross hanging over American industry today."
But the company, which has about $300 billion in outstanding debt, said on Wednesday it was in talks to sell a stake in its GMAC Commercial Mortgage unit after potential investors expressed interest in the unit.
GM, which last week cut its earnings outlook for 2005 by as much as 80 percent, posted a 6 percent drop in U.S. sales for the first two months of the year. GM's U.S. market share fell to about 25 percent, far below its share of 27.5 percent for all of 2004. What kind of American Revolution is this??

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