GM restructuring won't stop cash bleed - Fitch


By Dena Aubin NEW YORK, Nov 22 (Reuters) - General Motors Corp. will have to go further than a restructuring plan announced on Monday to get costs in line with falling revenues, Fitch Ratings said on Tuesday. Even if the automaker achieves all of the estimated $7 billion in cash savings expected from the cost-cutting plan by the end of 2006, that alone will not likely return GM to positive cash flow, Fitch Managing Director Mark Oline said on a conference call. "We do expect a ...

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