Godzilla V.Mothra : GE Capital Pulls $2bln GM Credit Line

Snides Remarks: After reading this report an interesting vision for another headline dated sometime in the future popped into my head...GE BUYS GM! what do you think?. e me msnide@theautochannel.com

NEW YORK March 22, 2005; Reuters reporteded that General Electric Co.'s GE Capital unit has withdrawn a $2 billion loan facility for General Motors and its suppliers, the Financial Times reported on Tuesday.

GM, which slashed its 2005 profit outlook last week due to a lagging U.S. auto market, will now provide its own factoring, or early payment, service to its suppliers, the paper reported.

"After GE Capital announced plans to discontinue their early pay program, it was important for GM to continue to provide this benefit to its suppliers given the current challenges to the automotive industry," Mark Fischer, director of supply risk management at GM, told the paper.