GM Viability Plan Cuts Saab, Pontiac, Saturn, Executive Pay

01/04/2009 05:12 am ET | Updated May 25, 2011
  • Huffington Post

At least one analyst thinks that GM's viability plan, which it is submitting to Congress today, is strong enough to win some converts in Congress:

A Wall Street analyst said Wednesday that General Motors Corp.'s survival plan submitted to Congress will likely get a "significantly improved reception," and that the $18-billion request is "potentially just enough" to get GM through a recession.

JPMorgan analyst Himanshu Patel said he expected Congress would, at the very least, approve next week the $4 billion the company says it needs by the end of the month to avoid bankruptcy, "if for no other reason than to keep its options open, as well as those of the next administration."