"Whatever I'm making, I'm using to pay the bills," he said.
State tax officials are in the process of seizing a $5 million bank account that the pardoned financier Marc Rich had been using to pay his legal expenses.
BP plans to put the money into the $20 billion fund that it is using to pay claims by individuals and businesses affected by the spill.
"The company's underlying assets are better than people think," he said, "and it's generating significant free cash flow that it's using to pay down debt and acquire new technology".
G.M. also has a cash stockpile of more than $30 billion, which it has been using to pay down debt and create what it calls a "fortress balance sheet".
Last week, an Israeli newspaper reported that Mr. Sharon was being investigated on suspicion that he conspired with his sons to conceal an illegal foreign loan, which he is accused of using to pay back another illegal foreign donation that was made as he ran for his first term as prime minister.
