GM Asks Thailand for Help

The Thai language business newspaper, Krungthep Turakij, reported Thursday that GM is seeking 5 billion Thai baht, or $143 million, from the government and banks. It didn't cite any sources.

GM spokeswoman Sasinan Allmand declined to comment on the figure but said the company isn't seeking funds for "survival."

Thailand is a major regional manufacturing base for several global automakers including GM, which says it has invested almost $1 billion in Thailand over the past decade, and Toyota(TM). The auto and auto parts industries employ tens of thousands in relatively well-paying jobs -- a notable success in the country's attempts to diversify its economy beyond tourism and agriculture.

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