Economy Blog » Motor Industry http://www.economyblog.co.uk Economic news blog and economy watch Sun, 27 Jun 2010 18:07:32 +0000 en hourly 1 http://wordpress.org/?v=3.0 GM could go bankrupt http://www.economyblog.co.uk/2009/03/05/gm-could-go-bankrupt/ http://www.economyblog.co.uk/2009/03/05/gm-could-go-bankrupt/#comments Thu, 05 Mar 2009 16:10:59 +0000 admin http://www.economyblog.co.uk/?p=561 The price of $30 billion that General Motors are asking for could be the only thing that could save them from bankruptcy. Without General Motors in the motor industry, there will be an immense lack of employment not to mention a string of dealerships without an avenue to access stock. The knock on affect that General Motors bankruptcy will cause, is likely to be catastrophic.

GM could go bankrupt

General Motors Corp on Thursday said its auditors had raised “substantial doubt” about its ability to survive outside bankruptcy if it fails to stem its losses and stop burning cash.
The “going concern” warning from the struggling U.S. automaker had been expected, but underscored the stakes for GM as it seeks up to $30 billion in U.S. government aid to restructure outside a court-supervised bankruptcy process.

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