Politics and Money

[ergo sum]

When was Obama elected again?


General Motors was financially vulnerable before the automotive industry crisis of 2008-2009. In 2005 the company posted a loss of US$10.6 billion.[16] In 2006, its attempts to obtain U.S. government financing to support its pension liabilities and also to form commercial alliances with Nissan and Renault failed. For fiscal year 2007, GM's losses for the year were US$38.7 billion,[17] and sales for the following year dropped by 45%.[18]

On November 7, 2008 General Motors reported it had projected it would run out of cash around mid-2009 without a combination of government funding, a merger, or sales of assets.[19
http://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization