is having a harder time selling $4 billion in assets after saying it may run out of cash, according to a media report.
Potential buyers are concerned that units including the Hummer sport-utility vehicle brand would lose value should GM fail,
reports, citing people familiar with the situation. The divisions being unloaded all would rely on GM as a partner after a sale.
Some members of Congress are pushing for a bailout of GM, along with automakers
Shedding assets was a pillar of GM's plan to boost cash by as much as $20 billion by the end of 2009,
reports. Available cash at the end of September fell 23% from the end of June, eroding the savings from job cuts and factory closures and spurring GM to ask for $25 billion in loans for the U.S. industry.
GM hadn't found buyers for Hummer, the ACDelco replacement-parts unit and a French transmission factory before saying last week that it may not have enough operating cash to last through the end of the year without federal aid,
A GM spokesman wouldn't name any suitors Wednesday, say how much the automaker expected to receive for the three units, or specify other assets being considered for sale to meet GM's liquidity goal, according to
GM has said bankruptcy isn't an option under consideration.
This article was written by a staff member of TheStreet.com.