In the light of the fact that GM burned through $7bn in cash last year, it was clear additional urgent action was required.

I still think it's unlikely, ... I think GM has the liquidity it needs. In addition to the cash, it has $50 billion in untapped borrowing.

You have an earnings penalty and a cash benefit, neither of which is overwhelming.

It's a footnote, ... I think it's a minor help to Ford's cash position. I suppose anytime you get about a quarter of a billion dollars it's welcome, but it doesn't change the big picture.

Ford would welcome the cash for liquidity purposes, to help provide for large unfunded pension liabilities and for research and development.

This is going to stop additional bleeding (of cash).