As of June 30th, GM slipped beneath $20 billion in remaining cash assets but is burning $17 billion per year. In other words, GM probably has just 9 to15 months of life left, at the most. And if I were one of GM’s creditors, I’d prepare to swoop in and call all my loans after Congress goes on holiday break shortly after the election. No one will be able to stop it and GM will be history. And the lenders will still only get pennies on the dollar for each dollar they loaned.
I am not sure where this gentleman gets his figures from. Best I could tell from a quick search no one else is using them at the moment. But it could be he has a more updated source then I have.
At any rate, there is no doubt that a lot of mainstream forecasters have started worrying about GM going bankrupt. And lately, when mainstream forecasters start worrying about something, it means that it is a sure thing.