[Newsbot]

Title: GM auditors raise doubts over viability
Category: Business
Posted By: mtbr
Date: 2009-03-05 07:42:05
Canadian

[martin14]

they should Chapter 11 it, car sales arent going to rise anytime soon..

11 now, or 7 in a few months.

[mtbr]

put a bullet in that sick dog before it costs us any more money.

[bootlegga]

$1:

“I think the government has forced the hands of everybody,” Mr. Platt said. “In 18 months to 24 months, I anticipate they will be profitable, in the black. A mean and lean competitor that will be world-class.”

How much will it cost until then?

[stemmer]

If I've read the article correctly, it sounds IF GM does declare bankruptcy they will have cost the taxpayers more money then they would have receiving bail out loans...

$1:

Chief Operating Officer Fritz Henderson said at the time that the government would be the only place the company could get financing for a Chapter 11 reorganization, because the credit markets are frozen. The worst-case bankruptcy scenario would cost the government $100-billion, Mr. Henderson said, because revenue would severely drop due to a lack of sales.

And what would happen to the retirees living off of pensions & requiring healthcare benefits from GM?

[stokes]

stemmer stemmer:

And what would happen to the retirees living off of pensions & requiring healthcare benefits from GM?

You make a good point about the retirees....but GM got itself into this trouble now they must find a way out.....when my dad lost his job and our house in the early 80's thanks to the NEP....no one was there to bail us out and we survived...these people and retirees who worked for GM will survive as well....let the company go.

[mtbr]

Time to cut our losses and remove the blood sucking leech. We'll get rid of two at once, the CAW