Here is the latest news on GM:
- 47,000 jobs globally
- closing five more U.S. factories
- GM said it could need up to $30 billion from the Treasury Department, up from a previous estimate of $18 billion. That includes $13.4 billion the company has already received (Net addition is $16.6B in assistance)
- Company could run out of money by March without new funds - needs $2 billion next month and another $2.6 billion in April.
- Chrysler LLC said it will cut 3,000 more jobs
On a Brighter Note:
KaChing, located in Redwood City, California, will be releasing v1.0 of the kaChing API. This is a piece of history. It's web 2.0 and it is embracing the world of stocks and finance with social networking.
If you live near KaChing HQ, I encourage you to attend.