GM is planning to close factories for nine weeks given the 123 day supply of vehicles on its lots, and its precarious financial position. I doubt it can satisfy bond holders and come up with a plan that suits the government.  The government's plan is to force GM into BK court I guess. This however…

Angus McKenzie at Motor Trend reports that Ford may also need some funds.  Yes Ford borrowed $23.5 B at the end of 2006. But Ford admits if sales are under 10 M units, it too will need funds. Read more on how automakers the world over are hurting, Mercedes burning through $24 M a day.…