Quote:
Originally Posted by LS9CamaroSS
the 25$ billion bailout hasn't been finalized just yet i don't think...besides the auto companies are getting loans not grants like wall street so it isn't as bad as it sounds...
|
Yes it is. Direct from GM's press release:
Quote:
|
"Even if GM implements the planned operating actions that are substantially within its control, GM's estimated liquidity during the remainder of 2008 will approach the minimum amount necessary to operate its business. Looking into the first two quarters of 2009, even with its planned actions, the company's estimated liquidity will fall significantly short of that amount unless economic and automotive industry conditions significantly improve, it receives substantial proceeds from asset sales, takes more aggressive working capital initiatives, gains access to capital markets and other private sources of funding, receives government funding under one or more current or future programs, or some combination of the foregoing."
|
To summarize "Give us gubment money or we go tits up".