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02-18-2009, 06:34 PM #1
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GM and Chrysler: 294 pages and the numbers are staggering
GM and Chrysler: 294 pages and the numbers are staggering
Wading through the 294 pages that General Motors and Chrysler submitted to the US Treasury, one thing stands out: the financial size of the problem the two companies face.
By James Quinn, Wall Street Correspondent
Last Updated: 6:26PM GMT 18 Feb 2009
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The numbers are staggering.Chrysler – which asked the US government for $7bn at the end of last year – wants an additional $9bn. GM estimates that under a worse-case scenario it will need $30bn, or $16.6bn on top of the $13.4bn of US taxpayers' money it has already gobbled up.
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