GM receives second aid of the US Federal Government
By Andrew C., 26 Aug, 2010. 0 Comments
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The second installment of the US Federal Government aid amounting to $5.4 billion (from a total of $13.4 billion) will be provided to General Motors on the 16th of this month. This installment will top the $4 billion already received by the carmaker last month which came from the $700 original financial industry bailout fund. General Motors however received another pledge amounting to $4 billion from a second $350 billion bundle which lawmakers promised to touch only after President-Elect Obama takes office on the 20th. After the government has done its part in providing aid to GMAC, the burden now rests on GM to prove its worth. [via automotive news]
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