This Is the End, My Friend

[boutons_]

March 5, 2009

GM Auditors Raise Doubts on Automaker's Viability

Filed at 6:37 a.m. ET

DETROIT (AP) -- General Motors Corp. says its auditors have raised substantial doubt about the company's ability to continue operations.
The troubled automaker revealed the auditors' concerns in its annual report filed on Thursday.

GM has received $13.4 billion in federal loans as it tries to survive the worst auto sales climate in 27 years. It is seeking a total of $30 billion from the government. During the past three years it has piled up $82 billion in losses, including $30.9 billion in 2008.

GM says in its report that its auditors cited recurring losses from operations, stockholders' deficit and an inability to generate enough cash to meet its obligations in raising substantial doubts about its ability to continue as a going concern.

[Twisted_Dawg]

The only ones that have not realized that is GM, the union and a handful of ignorant politicians

[TDMVPDPOY]

going concern answer hahahahahaha....fck that should be in receivership now...and the auditors stretchin this out longer.....

[Aggie Hoopsfan]

I'm just curious... for boutons and other libs on here, will you be pissed when Obama hooks up his union backers and ponies up more taxpayer money to keep GM afloat?

They need to go into bankruptcy and get their ty union deal reworked, that's their only hope. But more than likely Obama, Pelosi, and co. are going to keep shoveling cash at the problem, because they're 'too big to fail.'

[angrydude]

in other news, the sun is still in the sky.

[cool hand]

[cool hand]

[cool hand]

[cool hand]

my envoy warranty runs out at 60000 miles. I am at 57700.........lol.

[Bender]

I've got 60,000 on my hyundai, and still have 65,000 left.

[George Gervin's Afro]

I'm just curious... for boutons and other libs on here, will you be pissed when Obama hooks up his union backers and ponies up more taxpayer money to keep GM afloat?

They need to go into bankruptcy and get their ty union deal reworked, that's their only hope. But more than likely Obama, Pelosi, and co. are going to keep shoveling cash at the problem, because they're 'too big to fail.'

Let's assume we let them collapse. The union deals go away.. who is going to pay for the healthcare of all of the legacy population? They now have no health insurance.. so who is going to pay for those costs?

[coyotes_geek]

Let's assume we let them collapse. The union deals go away.. who is going to pay for the healthcare of all of the legacy population? They now have no health insurance.. so who is going to pay for those costs?

They have to make do without. Life sucks sometimes. But it was okay to do that to United Airlines and their legacies, so it's okay for GM and theirs.

But, it's not going to come to that because there's no way in Obama has the balls to let the UAW take a beating like that. So we'll just keep throwing more taxpayer money into the GM bottomless pit.