Quote:
Originally Posted by xl1200r
Kanak -
But think of this...
GM is losing appx $2.5 billion a month right now. That averages out to $30 billion a year.
2010 comes, and the healthcare stuff moves to that trust fund, and GM unloads a $50 billion a year expense. Now, overnight, they're making $1.6 billion a month without changing anything.
GM needs to make to 2010.
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According to GM's recent conference call they will run out of cash some time next year, and will not make it to 2010 without help. So, unless the gov't does something GM will have to file for ch.11 before they can escape that obligation.