GM will go BK?

Discussion in 'Wall St. News' started by turkeyneck, Dec 5, 2008.

  1. Turnaround by 2009 Q1 is not going to happen.

    Dec. 5 (Bloomberg) -- General Motors Corp. Chief Executive Rick Wagoner told lawmakers he would accept strict conditions for a U.S. loan to stay afloat, including a promise to return the money and file for bankruptcy if his company doesn’t fulfill the terms.

    Hurdles remain for a plan to keep GM and Chrysler LLC from running out of cash, as members of Congress and the Bush administration disagree on a funding source. Lawmakers are considering options such as providing automakers with enough aid to get them through next year’s first quarter on condition they make significant progress on restructuring their operations.
  2. *Yawn* once the congressional dog and pony show is over they will get their bailout