Tilted
..
$30,900,000,000 - That's how much money GM lost in 2008 (including special items)
$9,600,000,000 - That's how much money GM lost in the last 3 months of 2008 (including special items)
$6,200,000,000 - That's how much cash GM burned through in the last 3 months of 2008
$68,000,000 - That's how much cash GM burned through per day in the last 3 months of 2008
$13,400,000,000 - That's how much money the U.S. government has given GM since December 2008
$16,600,000,000 - That's how much more money GM says it needs (and without at least some of which, they say that they might run out of cash as soon as March)
Do the math. How much longer are we willing to subsidize this dysfunctional machine?
That $68 Million per day number is particularly telling. Basically, that is the amount of liquidity that they lose every day (and their liquidity would have already fallen to a level, at which they could not have continued to operate, if we had not given them money). That is also about how much more insolvent they become everyday that we keep letting them operate as they are. Essentially, we are stealing that much money from their bondholders, their pensioners, and some of their suppliers - and giving it to their current employees and some of their suppliers, every day that we continue to prop up their on-going operations. (The swap for their suppliers is probably a net-wash overall, but it is probably a benefit to specific suppliers at the expense of other ones.)
GM Posts Loss, Expects 'Going Concern' Notice
$9,600,000,000 - That's how much money GM lost in the last 3 months of 2008 (including special items)
$6,200,000,000 - That's how much cash GM burned through in the last 3 months of 2008
$68,000,000 - That's how much cash GM burned through per day in the last 3 months of 2008
$13,400,000,000 - That's how much money the U.S. government has given GM since December 2008
$16,600,000,000 - That's how much more money GM says it needs (and without at least some of which, they say that they might run out of cash as soon as March)
Do the math. How much longer are we willing to subsidize this dysfunctional machine?
That $68 Million per day number is particularly telling. Basically, that is the amount of liquidity that they lose every day (and their liquidity would have already fallen to a level, at which they could not have continued to operate, if we had not given them money). That is also about how much more insolvent they become everyday that we keep letting them operate as they are. Essentially, we are stealing that much money from their bondholders, their pensioners, and some of their suppliers - and giving it to their current employees and some of their suppliers, every day that we continue to prop up their on-going operations. (The swap for their suppliers is probably a net-wash overall, but it is probably a benefit to specific suppliers at the expense of other ones.)
GM Posts Loss, Expects 'Going Concern' Notice
