GM DOESN'T NEED MORE CASH...NOW - AT 1:47 P.M. ET:  From AP:

DETROIT — General Motors Corp. says its restructuring plan is starting to take hold, improving the automaker's fortunes at least to the point that it won't need a $2 billion government loan installment that it had requested for March.

Chief Financial Officer Ray Young said Thursday that GM formally told the Obama administration's autos task force on Wednesday that it wouldn't need the money this month. But in an interview with The Associated Press, Young would not say when the struggling automaker would need more government money or whether it will reduce the size of its loan request.

COMMENT:  The key point here is that GM still has to sell cars - a fact not even mentioned in the story.  It's a car company.  Historically, some of its executives haven't realized that.  It may be able to put off more loan requests, but it can't get back to health unless it builds cars that people want, and unless they buy them.

March 12, 2009