GM: 'Substantial doubt' about survival

**Jason** · 03-06-2009, 12:28 PM

NEW YORK (CNNMoney.com) -- General Motors Corp. said in a government filing Thursday that its accounting firm has found there is "substantial doubt" about the automaker's ability to survive.

The embattled automaker made the disclosure in a 480-page filing with the Securities & Exchange Commission.

The filing's grim tone is not a surprise. GM has sustained large and continuing losses that have now reached $82 billion over the last four years. It had previously said it needed additional federal loans, coupled with improved sales, to remain in business.

GM said in a separate statement that it is confident it will be able to turn around the business if it gets the federal help it is seeking and when consumer demand for autos returns.

http://money.cnn.com/2009/03/05/news...ion=2009030512

k2skier · 03-06-2009, 05:59 PM

With as many contracts our government has with GMC, the government should buy them outright, let them file Chapter 11, or better yet, let Exxon buy them or bail them out.

PS- I bleed blue.

**EnglishPaul** · 03-06-2009, 06:14 PM

You can try medicine on a dead horse; you can try flogging a dead horse; you can even try a carrot on a stick.
But there comes a time when you can either stuff it, or make glue.

And although the USA government might be quite good at stuffing things up, do they really want this on their wall?

**Drew1369** · 03-06-2009, 10:58 PM

AND THIS IS AFTER THE <TWIBAT>'ing MONEY WE ALREADY <TWIBAT>'ing GAVE THEM.

no... im not mad at all... yeah lets keep wrting more and more and more "stimulus" packages...

Let them die... I could care less now...

even with the huge GM fleets out there I could see Ford picking up the contracts or taking in GM cars and selling spare parts...

03-06-2009, 12:28 PM	#1 (permalink)
Jason Faugh a ballagh Join Date: Dec 2001 Location: Pasco, FL Posts: 8,476 OS: Windows Vista My System Blog Entries: 2	GM: 'Substantial doubt' about survival NEW YORK (CNNMoney.com) -- General Motors Corp. said in a government filing Thursday that its accounting firm has found there is "substantial doubt" about the automaker's ability to survive. The embattled automaker made the disclosure in a 480-page filing with the Securities & Exchange Commission. The filing's grim tone is not a surprise. GM has sustained large and continuing losses that have now reached $82 billion over the last four years. It had previously said it needed additional federal loans, coupled with improved sales, to remain in business. GM said in a separate statement that it is confident it will be able to turn around the business if it gets the federal help it is seeking and when consumer demand for autos returns. http://money.cnn.com/2009/03/05/news...ion=2009030512 __________________ Posting Tips \| Advice for New People \| Common Fixes \| Agus na damnaithe fágtha gan focal Glaoigh ormsa i measc na naomh

03-06-2009, 05:59 PM	#2 (permalink)
k2skier Registered User Join Date: Sep 2008 Location: Oregon Posts: 313 OS: XP Home-SP3 My System	Re: GM: 'Substantial doubt' about survival With as many contracts our government has with GMC, the government should buy them outright, let them file Chapter 11, or better yet, let Exxon buy them or bail them out. PS- I bleed blue.

03-06-2009, 06:14 PM	#3 (permalink)
EnglishPaul Still no avatar Join Date: Sep 2007 Location: Sheffield Posts: 1,314 OS: XP SP2 Blog Entries: 9	Re: GM: 'Substantial doubt' about survival You can try medicine on a dead horse; you can try flogging a dead horse; you can even try a carrot on a stick. But there comes a time when you can either stuff it, or make glue. And although the USA government might be quite good at stuffing things up, do they really want this on their wall?

03-06-2009, 10:58 PM	#4 (permalink)
Drew1369 Moderator Relaxation Room Join Date: Jan 2007 Location: Seattle, WA, USA Posts: 3,431 OS: Win7 Ultimate	Re: GM: 'Substantial doubt' about survival AND THIS IS AFTER THE <TWIBAT>'ing MONEY WE ALREADY <TWIBAT>'ing GAVE THEM. no... im not mad at all... yeah lets keep wrting more and more and more "stimulus" packages... Let them die... I could care less now... even with the huge GM fleets out there I could see Ford picking up the contracts or taking in GM cars and selling spare parts... __________________ We humans have a primal urge to kill because, thanks to natural selection, all the homo sapiens who didn't have a primal urge to kill, were themselves killed. http://obamaclock.org/