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Originally Posted by Dragoneye
Right, and didn't that article say that that's what they're hoping to do before or during the June 1 deadline -- which is why they can't (or won't) pay it outright?
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If the current negotiations with bondholders are unsuccessful, they will still be on the hook for this payment. The reason they can't or won't pay it outright on June 1st, is that they have no money to do it.
GM burned through 113 million dollars a day MORE than they took in during Q1. That is staggering when you consider how much money they have been given over the same time period. We are not talking about losing money here, we are talking about cashflow. Time to drop the gavel.