Goodbye Hummer

Wagoner said GM was reviewing the Hummer brand and could sell the military-derived SUV line, which has become synonymous with gas-guzzling excess.

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Wagoner said GM, which has lost a combined $51 billion over the past three years, was not ready to detail a timeline for returning to profitability.

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GM ended the first quarter with $31 billion in cash, available liquidity and undrawn credit. Analysts handicapping GM's turnaround efforts have increasingly focused on the cash drain from its operations and support for troubled former subsidiaries, GMAC and bankrupt parts supplier Delphi Corp.

In a sign of the deepening trouble for GMAC's mortgage unit, ResCap, GMAC and Cerberus Capital Management on Tuesday said they had agreed to inject more than $1.4 billion to help the struggling mortgage lender avoid running short of cash.