General Motors reportedly plans on holding on to its $33.8 billion in cash reserves for a little while longer. It’s not that the company doesn’t plan to eventually share its fortunes with investors, it’s the external factors such as the murky if not bleak outlook of the global economy, as well as the automotive sales market as a whole that are making The General reluctant in doing so.
“We’ve got to see what this economic environment looks like through the rest of this year,” GM Vice Chairman Stephen Girsky told investors in New York. “Let’s make sure we continue to do what we say we’re going to do and talk again next year.”
Source: The Detroit Free Press