GM has announced it will sell its entire 3.02% ($230 million) stake back to Suzuki  as the auto giant tries raise much needed cash before it goes into bankruptcy from becoming insolvent. “We fully understand the necessity for GM to raise cash,” Suzuki chairman and CEO Osamu Suzuki said in a statement. Suzuki also maintains it will actively continue a business relationship with GM. The new capital will not make a material difference for GM as it is going to continue to burn about $1.6 billion per month. GM is now seeking part of a $25 billion government issued bailout loan for Ford, Chrysler, and GM. In 2006, GM sold a 17% stake in Suzuki leaving it with the reminder 3% it has sold now. GM now longer has any stake in Suzuki.

Make sure to check out my other articles about GM, including this one where I give my position about why we should bail GM out.