In reading Auto bailout demands 'tech leadership' from GM | Green Tech - CNET News, I came across the GM viability assessment document issued by the government at http://online.wsj.com/public/resources/documents/GM-Viability-Assessment-20090330.pdf. There's some great and not so surprising info in there. At least, it's pretty succinctly boiled down to 5 pages as to why the government rejected their plan.
Yeah, also, where's Jimmie84? I'm waiting for him to come and say the auto task force is "no good", biased, etc.
MMmmmm (smack) (smack) mmmmmm (crunch) mmmmm huh? Um ..... (burp!) .... don't knock Soylent Green until you try it. No real surprise at that assessment, is there??
GM's spin will be, "we wanted to build the Volt but the government made us put a hold on the project". The hold will quietly become permanent as GM reassigns or fires everyone even remotely connected to it and sells everything to the scrapyard. Although they don't have cash flow for union retirement benefits they appear to have plenty of cash for executive retirement benefits. It's about time GM taps into the Volt base & starts taking deposits.
Wow. How about this quote: "Under its own plan, GM generates $14.5bn of negative free cash flow over its 6 year forecast period. Even in 2014, on its own assumptions, GM generates negative free cash flow after servicing legacy obligations." What idiots. Planning for failure will result in failure. While the US Government may not be able to run a car company, they are light years more competent then this.
Ah yes .... "negative cash flow" Is that like antimatter? I love these deranged accounting parallel universes where such things are not only possible, but NORMAL.
