The U.S. carmaker General Motors (GM) today reported financial losses per thousand 200 million dollars during the period between July and September this year.
In a public statement, the consortium said that specific revenue car sales fell by 25 percent compared to the same period of 2008, but continue to administer economic aid given by the government.
10 GM last July received federal loans worth 6.7 billion dollars as part of proceedings of the Treasury Department to try to save the party from bankruptcy. Corporate spokesmen pointed
that the company can not cancel its total debt to the U.S. government and Canadian authorities until June 2010. Six months ago
automotive consortium founded in 1908 became the largest manufacturing firm in bankruptcy in U.S. corporate history.
The bankruptcy of the company, based in Detroit, Michigan, represents a humiliation for American industry and the worst fiasco in the automotive sector, said the newspaper Monsters and Critics.
corporate giant was unable to restructure its unsecured debt
-calculated at 27 billion 200 million dollars, a requirement the White House to continue to support the manufacturer car.
As a result of its submission to the bankruptcy law, at that time the second largest automaker in the world (after Toyota) removed a fifth of its U.S. representatives and eliminated more than 30 thousand jobs.
Via: www.prensa-latina.cu
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