Friday, April 24, 2009

Treasury lends $2 billion more to General Motors

AP reports:
Taxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court.

The Treasury Department said Friday it lent the additional money to GM on Wednesday to provide working capital. The loan pushes the total amount of GM's government aid to $15.4 billion after the company said it would need more money in the second quarter to stay afloat.
No word yet on the Obama administration calling for UAW workers to make what the median private sector worker makes.