[OctaneZ28]

Back in June 2007, GM was staring a lot of financial variables in the face. To help alleviate a potential cash crunch, the General took out a $4.1 billion line of credit with a syndicate of banks to ensure that bills would get paid in the event of an emergency. The UAW negotiations have come and gone, and the Cadillac CTS and Chevy Malibu have launched without the General needing to dip into the credit line, so GM terminated the agreement. The automaker informed the U.S. Securities and Exchange Commission that it had "sufficient liquidity and financial flexibility" in the first half of 2008 to cover its bills without borrowing additional funds.

http://www.autoblog.com/2008/01/06/gm-cancels-4-1-billion-line-of-credit/

Not having to borrow $4.1 Billion is a good thing! :thumbsup:

 

[Luwinkle]

Wait for it, wait for it.......................................................................................................................................................................






WOOOOOOOOOOOOOOOOOO!!!!!

 

[LT16SPEED]

Wait for it, wait for it.......................................................................................................................................................................






WOOOOOOOOOOOOOOOOOO!!!!!

This is what I would be saying if Toyota needed a $4.1 BILLION $ loan.atriot:BTW, good news for GM!!!

 

[USA1Camaro]

Great news. I wonder what GM was paying to have that line of credit all held in reserve.

 

[Dirtfarmer]

More good news.

atriot:

 

[CUONCRS]

YES! They'll get my $30k-ish, that'll help a little bit.

 

[OverAnxious]

That is great news for sure