REPORT: Fritz says GM doesn't need any further aid from Washington

[jamz]

Filed under: Government/Legal, GM, Earnings/Financials



Fritz Henderson went to Washington to have a word the folks who wrote the $50 billion check to keep General Motors alive. While there, he answered a few questions put forth from The Washington Post about that investment and the "new" company created with it. His answers are sound, but qualified and a bit vague - that's to be expected, since the economic storm isn't anywhere close to being over.

On the subject of money, he said that "any reasonable planning scenario" they've looked at doesn't involve the government writing any more checks, and when it comes to payback, "If we get our job done, I think the government has an excellent chance of getting a return on its investment." That could all be read as a way of saying "We have no clue what's going to happen." But four months into his job is too soon for Henderson to be making promises for years out, so at the very least, we'll see what GM's next round of cars is like before we dissect his veracity.

On other scores, Henderson praised the UAW, kicked hydrogen cars in the doors, estimated that the Chevrolet Volt will come in at $40K, and he also said electric cars need a lot more investment from other sources for prices to come down. Click the link for the rest of The Generalissimo's words. Hat tip to Serge!

[Source: The Washington Post] | Image: Philippe Lopez/Getty]

REPORT: Fritz says GM doesn't need any further aid from Washington originally appeared on Autoblog on Fri, 30 Oct 2009 17:29:00 EST. Please see our terms for use of feeds.



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