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GM & Ford on Bloomberg Video

Posted By Barry Ritholtz On November 8, 2008 @ 9:30 am In Economy,Video | Comments Disabled

GM’s Wagoner Calls Bankruptcy `Unimaginable Consequence’
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[1]

Rick Wagoner, chief executive officer of General Motors Corp., talks about the company’s third-quarter operating loss, liquidity and prospects for federal aid. The largest U.S. automaker said it may not have enough cash to keep operating this year and will fall “significantly short” of the amount needed by the end of June unless the auto market improves or it raises more capital. GM posted a $4.2 billion operating loss and said its available cash fell to $16.2 billion on Sept. 30. Merger talks with Chrysler LLC were suspended.

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Alan Mulally Says Ford Has `Sufficient’ Liquidity
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[2]

Alan Mulally, chief executive of Ford Motor Co., talks about Ford’s third-quarter loss, liquidity and the outlook for Ford’s recovery. Ford posted a third-quarter operating loss of $2.98 billion and said it used up $7.7 billion in cash


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[1] Image: http://www.bloomberg.com/avp/avp.htm?N=av&T=GM

[2] Image: http://www.bloomberg.com/avp/avp.htm?N=av&T=Alan%20Mulally%20Says%20Ford%20Has%20%60Sufficient

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