G.M. Posts a Quarterly Loss of $6 Billion

不一样的市场调整

G.M. has borrowed $15.4 billion from the federal government since December to stay afloat, and the company says it needs $11.6 billion more. 

Bondholders would own roughly 10 percent and existing shareholders would account for just 1 percent of the new company. G.M. is planning a reverse stock split, which would turn every 100 shares outstanding into one new share. Shares of G.M. have lost more than 90 percent of their value in the last year as the company has descended toward a possible bankruptcy.

As part of its restructuring, G.M. now says it will, by the end of 2010, cut 21,000 factory jobs, close 13 plants and get rid of about 2,600 dealerships. More job cuts and plantclosings would occur in later years.

G.M. intends to slash its brand portfolio in half, by closing Pontiac and trying to sell Saturn, Saab and Hummer.