Quote:
Originally Posted by BeermanSS
GM has cash to operate through 09. Don't worry.
|
How do you figure?
They are burning nearly 2 billion a month and have about 16 billion, I think it was in reserve. There is no way they make it through 09 without a bailout.
They lost more per share than the shares are currently trading at in the last quarter.
Quote:
General Motors shook an already embattled auto industry Friday as it reported a huge quarterly loss that was much worse than expected and warned it is in danger of running out of cash in the coming months.
The nation's largest automaker reported that it lost $4.2 billion, or $7.35 a share, excluding special items. That's up from the loss $1.6 billion or $2.86 a share it reported a year earlier and was far worse than the forecast of analysts surveyed by earnings tracker Thomson Reuters, which had forecast a loss of $3.70 a share.
But the most shocking news came in its statements about its cash position. GM said it had burned through $6.9 billion during the quarter and warned that it "will approach the minimum amount necessary to operate its business" during the current quarter.
|
The numbers, unlike opinions, tell the truth.
http://jalopnik.com/5079567/gm-decla...-loss#c8794981