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The sinkhole known as General Motors has decided that it needs to borrow another $2 billion from the U.S. Treasury to remain liquid while it tries to “restructure.”

The latest injection of funding means to date GM has received $15.4 billion in funding.

In a statement, the company said, “We appreciate President Obama’s and his Administration’s ongoing support of GM and the domestic U.S. auto industry as we undertake the difficult but necessary actions to reinvent our company. We will continue to work closely with members of the president’s Auto Task Force throughout our reinvention and together we will continue to monitor our liquidity needs during this period.”

GM will temporarily close 13 North American assembly plants, an action that will remove 190,000 vehicles from the company’s production schedule, the company said on Thursday

GM is also getting rid of Pontiac, leaving it with just 4 brands under its name. In my opinion, the fewer the better. If I were to buy a domestic car tomorrow it would likely be a Ford. GM has proven time and time again that it is an untrustworthy brand and it doesn’t deserve the sales it does get.

Jeremy

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