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GM Borrows Another $4B From Feds

Company to cut 3,400 more white-collar jobs amid restructuring

By Rob Quinn,  Newser Staff

Posted May 23, 2009 6:09 AM CDT

(Newser) – General Motors has borrowed another $4 billion from the Treasury ahead of its June 1 deadline to restructure or face bankruptcy, the Wall Street Journal reports. A statement from the automakers said the loan, which brings the total borrowed to nearly $20 billion, is "...   Read full story »

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