GM: Functionally bankrupt?
GM Loses $15.5 Billion in 2Q
...or "What does it look like to lose about $2000 per second?"
Alfred P. Sloan is rolling in his grave somewhere. GM has the financial equivalent of flesh-eating bacteria, cannibalizing its own funds to stay afloat, mortgaging its own brands and capital to operate.
The estimates I saw yesterday were in the $7 Billion to $9 Billion range. Wow.
We need some moniker besides "The Perfect Storm" for this automotive maelstrom...this is more like that 200 ft Tsunami at the end of Deep Impact
...or "What does it look like to lose about $2000 per second?"
Alfred P. Sloan is rolling in his grave somewhere. GM has the financial equivalent of flesh-eating bacteria, cannibalizing its own funds to stay afloat, mortgaging its own brands and capital to operate.
The estimates I saw yesterday were in the $7 Billion to $9 Billion range. Wow.
We need some moniker besides "The Perfect Storm" for this automotive maelstrom...this is more like that 200 ft Tsunami at the end of Deep Impact
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