From the NY Times,
“…General Motors acknowledged in its annual report on Thursday that its survival was in ‘substantial doubt’…GM warned last month that its auditors, Deloitte & Touche, could raise concerns about its viability…Despite the notice, G.M., which lost $30.9 billion last year and has already borrowed $13.4 billion from the government, said that it still believed it could be viable and that it did not intend to file for bankruptcy protection….G.M. said in Thursday’s filing that it had no way to repay the loans right now and could soon become insolvent without at least $9.1 billion more aid.”
WTF? This is all from the same article.
Filed under: GM