If the Viability plan does not work for GM, the auditors say it is subject to a Going Concern Warning, ie, it would have to liquidate.
High Noon for GM the UAW and the FEDs is here.
Professor Elam
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2 responses to “Auditors Post Going Concern at GM”
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And to think that GM is still asking for 30 billion dollars of our tax dollars amazes me. And what would amaze me further beyond belief – If we give it to them. How long would that extra 30 billion in “giveaway money” (their likelihood of repaying is slim) will suspend the inevitable?
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On this one I disagree, we have given AIG over one hundred billion and all they have done is screw up, a collapse of GM would be felt into every town of any size in America, what would the unemployment for mechanics, parts folks, etc cost? Cheaper to keep GM going at this point in my opinion.
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Professor Elam 
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