General Motors might not make it to end of the year even with federal aid
November 10, 2008
General Motors continues in its death dive with the latest news from a top Wall Street analyst who said the company's cash is just running out too fast, according to a new story in the Detroit Free Press. He says, it might even be too late for federal aid.
The analyst said:
“Even if GM is able to secure immediate U.S. government support, we
believe that GM’s predicament has the potential to set in motion a
sequence of events that would be bankruptcy-like,” said Deutsche Bank
analyst Rod Lache, who lowered his rating on GM shares to “sell” from
“hold.”
What does this mean for the state of Michigan?
Does the state have the leadership to lead its people out of the economic dessert that's approaching?
Is government still the answer?