GM shares halted on the stock exchange
Here we go! Place your bets!
Lower than expected earnings and revenue. Lost about $7.35 per share versus expectations for a loss of $3.70 per share. Revenue came in about $3B less than expected.
Burning through more than $2B per month in cash. Business is unsustainable in its current form.
Don't have exact numbers, I'm just listening to the report now....but it's not good.
"GM SAYS LIQUIDITY DECLINING TO 'MINIMUM' NECESSARY TO OPERATE"
Wow... tough to make a comeback when you barely have enough liquidity to function.
Hmmm...what was GM's quote a few weeks ago? "Bankruptcy is not an option?"
In other breaking news: Death is not an option.