Posted AT 7:04 PM EST on 07/11/08
Fearing worst, GM pleads for aid
Embattled
General Motors Corp. is running dangerously low on cash, raising the stark spectre of a spiral into bankruptcy protection and a massive economic disaster as the auto maker and its rivals confront the gravest threat they have faced since the Great Depression.
GM said Friday that its financial resources deteriorated to $16.2-billion (U.S.
The full text of this article has 677 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | +100.26 | 9,221.58 |
| DJIA | -27.24 | 8,742.46 |
| S&P 500 | +3.08 | 909.73 |
| Nasdaq | +17.95 | 1,617.01 |
| Stock Profile | Sponsored by: |
|---|---|
 |
|
MOST POPULAR 
Most Popular
| Rank | Headline |
|---|---|
| 1. | Canada's oil sells for less 08/01/09 9:15 PM
|
| 2. | And the most stressful jobs are... 08/01/09 6:15 PM
|
| 3. | Not your average wireless outfit 08/01/09 8:48 PM
|
| 4. | Teck slashes work force in debt battle 08/01/09 9:00 PM
|
| 5. | Where's our bailout? porn industry asks 08/01/09 11:46 AM
|
| 6. | Oil sands admits PR failure 08/01/09 4:11 PM
|
| 7. | ‘Our digital lives will only get richer' 08/01/09 8:52 PM
|
| 8. | Loonie climbs more than 1 cent 08/01/09 4:52 PM
|
| 9. | Banks 'well placed to lend' 08/01/09 5:31 PM
|
| 10. | Top court says no to mortgage-interest deduction 08/01/09 12:25 PM
|
Adhocracy
- And now, naked sheep
- Plus: Naked-naked, but in a natural way
Consumer Electronics
- Future dims for desktop
as laptop sales surge - Consumers won over by competitive price, performance and portability; manufacturers race to expand choices
7
The Law Page
- Back in the M&A world
- After stints in public service, Michael Fortier rejoins Ogilvy
Globe Investor Magazine
- Ten things to know about TFSAs
- The nuts and bolts of these new tax-sheltered accounts -- and who benefits most from them
-
Related:
Tax-Free Savings Account ideal as emergency backup fund
Restaurant Diary
- Dine and dash
- "Party math" makes large groups risky for servers
Magazine Exclusive
- Peter Puck's last stand
- In 2002, the former Oilers owner moved to California, leaving bailouts and ill will in his wake. For unwitting new partners in the U.S., a golden entrepreneur seemed to have swept into town 7:04 AM
MARCUS GEEA setback for Israel, a calamity for the Palestinians