More thoughts on GM's demise
So even if I were to buy the argument that GM is well on its way to profitability (which I don't think it is), where does it come up with the money to pay what it CURRENTLY owes????
Please answer me this!!!!!!!!
This is the essence of my argument. I'm not arguing whether June sales will be good or bad. Who knows? I'm arguing that even if June sales are good, this company is TOAST.
GM knows what I'm saying. That's why they are issuing debt against the equity value of their GMAC shares, that's why the are actively selling their Allison transmission plant (even though it generates EBIT of nearly $600 million a year, that is why they are pulling cash out of their pensions.
So, tell me, where does the money come from to pay what they ALREADY owe????