General Motors- GM says it "may" go bankrupt. Which means it "will"

Wednesday, May 16, 2012




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GM says it "may" go bankrupt. Which means it "will"

Thursday, February 26, 2009
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GM's auditors are pouring through its financial statements to determine if it can continue as a "going concern." GM lost $9.6 billion in the fourth-quarter, so you can't blame them for worrying about bankruptcy. The current quarter is going to be another bomb.

According to CFO Ray Young, GM needs more federal aid (just $30 billion) to stay afloat. Even so, it's expected that GM will get the "going concern" notice. Most companies that receive one go bankrupt.

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Topics:		General_Motors \| Stocks

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