J E T
03-14-2006, 03:46 PM
http://www.autonews.com/apps/pbcs.dll/article?AID=/20060314/REG/60314008/1003&refsect=
"Rating agency Standard & Poor's on Tuesday said it expected General Motors to swing to profitability in 2006 but said a bankruptcy filing was a risk if financial performance at the world's largest automaker does not improve."
"GM lost $8.6 billion in 2005 as it struggled with high labor and commodities costs, loss of U.S. market share to foreign rivals, and sluggish sales of profitable sport utility vehicles."
"GM is also in talks with potential partners to sell a majority stake in its finance arm, General Motors Acceptance Corp., in an effort to lower its borrowing costs and protect its credit rating."
"Levy said he expects 2006 sales of about 16.7 million units, down from nearly 17 million in 2005."
"Rating agency Standard & Poor's on Tuesday said it expected General Motors to swing to profitability in 2006 but said a bankruptcy filing was a risk if financial performance at the world's largest automaker does not improve."
"GM lost $8.6 billion in 2005 as it struggled with high labor and commodities costs, loss of U.S. market share to foreign rivals, and sluggish sales of profitable sport utility vehicles."
"GM is also in talks with potential partners to sell a majority stake in its finance arm, General Motors Acceptance Corp., in an effort to lower its borrowing costs and protect its credit rating."
"Levy said he expects 2006 sales of about 16.7 million units, down from nearly 17 million in 2005."