Posted AT 3:35 PM EST on 10/07/08
GM's Wagoner: Company won't seek bankruptcy
DALLAS — The chief executive officer of General Motors Corp. dismissed speculation that the largest U.S. auto maker might soon seek bankruptcy protection.
Comments during the past week about a potential bankruptcy are "not at all constructive or accurate," Rick Wagoner said Thursday.
GM has $24-billion (U.S.) in cash and $7-billion in credit facilities, he said.
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