Quote:
Originally Posted by CamaroScotty
What came out today is already well known, however, since it came from an auditor, it seems to have freaked out Wall Street.
If you read between the lines, what this basically means and what we have already known, is that if GM does not get the second round of loans from the Federal Government (due March 31), they will be forced into bankruptcy. Most people feel that GM will not be allowed to file for bankruptcy due to the collateral damage it would have on the global economy.
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What MORE harm could it possibly do? Their sales are ALREADY down, their production is ALREADY down, which means their suppliers are ALREADY down. The media makes it sound like 10s of thousands of people will lose their job if GM goes chapter 11. Got news for you- they ALREADY have lost their jobs.