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Christine Buckley, Industrial Editor General Motors is believed to be considering emergency moves to boost its liquidity, including the sale of Saab, its stake in GMAC, the finance business, and the sale and leaseback of its headquarters in Detroit. Yesterday the car giant insisted that it was not considering bankruptcy, despite the heavy fall in its share price this week. On Thursday its shares closed below $5, taking it to a 58-year low and pushing its market value below the level it was at in 1929. GM could announce further production cutbacks as soon as next week in response to the weak car market and the lack of finance for those who want to buy new cars. This week it announced production cuts in Europe after other contractions in the United States in the summer. Profits up for VW and Peugeot as GM sales fall Rick... [read full story]
