- Sep 29, 2000
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A lot us around here knew that the money given last year was going to serve no need but simply push the problem ahead, since it was merely to cover operating costs. GM has been burning through cash at an obscene rate and is in no better position right now than it was when it first got its billions last year.
What about the conditions for more money? Who thinks that holds any water?
My guess is that the gov gives it to them. This is exactly how it was always going to play out, there was no alternative. The math pointed out last fall was that the holdover money was going to be done by around March and, oh look, it's March, so now this is exactly as it was last fall except now the gov is a touch poorer for it.
General Motors Corp. said its auditors have raised substantial doubt about the company's ability to continue operations.
A lot us around here knew that the money given last year was going to serve no need but simply push the problem ahead, since it was merely to cover operating costs. GM has been burning through cash at an obscene rate and is in no better position right now than it was when it first got its billions last year.
What about the conditions for more money? Who thinks that holds any water?
My guess is that the gov gives it to them. This is exactly how it was always going to play out, there was no alternative. The math pointed out last fall was that the holdover money was going to be done by around March and, oh look, it's March, so now this is exactly as it was last fall except now the gov is a touch poorer for it.