General Motors Corp. Chief Executive G. Richard Wagoner agrees with the industry consensus that U.S. vehicle sales probably will drop 5% from this year's record high. But if things suddenly should go south in a hurry, he says GM has a cash cushion of $13 billion to $13.5 billion to hold it over. “I think our financial situation is pretty robust,” he says in a recent interview with Ward's Automotive Reports, although he acknowledges GM's earnings need to be better. Even so, “the latest ...
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