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New GM Chief Barra Vows To Keep 'fortress Balance Sheet'

By DMO Affiliate
General Motors Co's new Chief Executive Officer Mary Barra vowed on Thursday to maintain a "fortress balance sheet," which has been a mantra among executives at the biggest U.S. automaker since 2010, the year after it emerged from bankruptcy. In her first meeting with reporters since she took the top spot at GM last week, Barra said the company has been keenly focused on operating profitably everywhere it operates and maintaining a very strong balance sheet. GM said last week that modest growth in the U.S. and Chinese auto markets would help fund about $1.1 billion in restructuring costs in harder-hit regions, including Europe.
New GM Chief Barra Vows To Keep 'fortress Balance Sheet'

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