GM Posts Dismal 4th Quarter Earnings

Automaker says it lost $30 billion in 2008

 General Motors Corporation posted a $9.6 billion fourth-quarter loss on Thursday. 

The automaker says it burned through $6.2 billion dollars in cash as it fought the worst U.S. auto sales climate since 1982.  The nation's largest car maker says it lost $30.9 billion for the full year. 

GM has received $13.4 billion in federal loans since Dec. 31 and says it needs up to $30 billion in federal aid to stay out of Chapter 11 bankruptcy protection. 

Top GM executives were in Washington, D.C. on Thursday to meet with the Obama administration's auto task force to talk about restructuring and additional loans.

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