GM Needs Assistance For Its European Divisions
LINDA WERTHEIMER, host:
NPR's business news starts with GM taking the tin cup to Europe.
Actually, it's more than a tin cup. A top General Motors executive said if European governments don't pony up some aid, the company's European divisions could soon run out of cash and hundreds of thousands of jobs could also be at risk. GM has asked the German state officials for billions in bailout funds. GM's also held talks with governments in the U.K., Spain and Poland.
Once the largest automaker in the world, GM's situation continues to deteriorate. Yesterday the company reported that sales in the U.S. dropped more than 50 percent last month.
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