Video: Ray Young tells us why GM doesn’t need $2 billion

Posted: Mar 12, 2009
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Earlier this morning General Motors said that it will not be needing the $2 billion of funding that the Detroit automaker asked for in its February 17th viability plan. GM has just released a video of its Chief Financial Officer Ray Young clearing up the matter for us and letting us know what has changed since General Motors initial request.

Young also gives us an update on GM’s relationship with the auto task force. He also touches on the subject of today’s news of the CAW ratifying a new agreement with GM Canada.

Any guesses on why Young looks so tired in this video?

Click through to watch the video.

- By: Omar Rana

Source: GM FastLane Blog


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  • Ivan Gutierrez

    So they're going to need 3 billion in April? How far can cost cutting take them? The reason they're in this mess is because they didn't have desirable vehicles and public perception of GM wasn't and still isn't great. Looking at GM's viability plan, the only truly fuel efficient cars mentioned were the Cruze and the Volt. Sure the CTS, Camaro, and Lacrosse look like fine vehicles, but they are not going to save GM.

  • Bobmarley

    Agreed…but its not all about fuel efficient cars like the media makes it out to be. Public/consumer perception is the problem and unfortunatly for GM this doesnt change over night, it takes years!… one concept car (Volt) doesnt do the trick

  • Bobmarley

    Agreed…but its not all about fuel efficient cars like the media makes it out to be. Public/consumer perception is the problem and unfortunatly for GM this doesnt change over night, it takes years!… one concept car (Volt) doesnt do the trick