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GM Speeds Up Checks to Suppliers, Government

The carmaker says it will be able to pay off its debt to the U.S. Treasury faster than expected and aims to keep cash flowing smoothly through its supply chain.

November 16, 2009

General Motors will be paying suppliers more regularly as the postbankruptcy version of the company seeks to grow and eventually become publicly traded again. Doing so will "smooth out the cash-flow portfolio for our supply base as well as smooth out the cash-flow portfolio for us," said CFO Ray Young during a conference call Monday. "We're trying to work constructively with our supply base to find ways to help them even during these particular challenging times." Read more...

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