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Top new models for SA

From Renault's new Alaskan bakkie to the latest models at the Frankfurt motor show bound for SA.

Electric cars in SA

The debate on whether or not Electric Vehicles (EV) are viable in South Africa rages on.

GM's Wagoner sounds alarm

2009-03-18 11:12

General Motors chief executive Rick Wagoner says the automaker would end up being liquidated if it enters bankruptcy protection.

Wagoner says restructuring out of court would accomplish 99% of what could be achieved in bankruptcy. But he says it wouldn't have the risk of scaring away customers or the huge expense of bankruptcy.

Wagoner made the statements Tuesday at a breakfast in Washington, DC, sponsored by the Christian Science Monitor.

General Motors Corp. has received $13.4 billion in federal loans and is seeking another $16.6 billion. The company faces a March 31 deadline
to finish its viability plan and show the government it's worthy of the money.

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