GM Reports Loss in Billions, Is Low on CashShow Video Details ↓ Sandy Kozel: A rough road for auto giant General Motors, posting a $2.5 billion loss in the third quarter. Burning through almost $7 billion in cash as US auto sales screeched to a halt. And if business does not turn around, the auto maker says it could be out of cash by next year. GM says it is stopping talks to acquire rival Chrysler, instead trying to boost liquidity by $5 billion. While cutting spending, reducing sales promotions and slashing production. GM is also suspending the company's match for its 401k stock savings plan. Sandy Kozel, the Associated Press. [silence] |