 GM auditors raise doubts over viability “The corporation's recurring losses from operations, stockholders' deficit, and inability to generate sufficient cash flow to meet its obligations and sustain its operations raise substantial doubt about its ability to continue as a going concern,” auditoCommentsview comments in forum Page 1 You need to be a member of CKA and be logged into the site, to comment on news. |
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11 now, or 7 in a few months.
How much will it cost until then?
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?
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.