Comments on: Fitch Ratings Pegs GM’s ‘08 Cash Burn at $8b

By: MikeInCanada

MikeInCanada — Thu, 08 May 2008 20:52:50 +0000

I would definitely buy Saab for $1.98 (plus liabilities….I’ll pay, I’ll pay, I promise…) just so I can move to Sweden and be surrounded by good looking co-workers.

By: Redbarchetta

Redbarchetta — Thu, 08 May 2008 19:43:47 +0000

I would take Saab for $1.98 but what would I be getting for my 2 dollars. Is there any engineering and design left in Sweden or did GM kill it all except for a few concept builders. Depending on what would be left to work with of Saab I think it can be salvaged with the right kind of dedicated non-GM management and a little investment. They just need to have one really great 900 hatchback replacement and just forget the rest of the stuff they are peddling.

By: Facebook User

Facebook User — Thu, 08 May 2008 18:51:14 +0000

Good to see that the company that actually appears to be trying to change (Ford) is being recognized by soembody as a better bet to survive into the future.

How much did Mullaly make compared to Waggoner last year?

By: NeonCat93

NeonCat93 — Thu, 08 May 2008 17:47:02 +0000

@ menno

I guess it depends on what exactly the $1.98 gets you. If you could lay everybody off then use the machines to build a robot army to take over the world, that would be worth at least $2.00.

Or the stationary. Someone has to want all the stationary. Heck, the best price I can pay for copy paper is about $28/case. One case of paper means I make $26 profit.

OTOH, I probably couldn’t afford the property taxes. Dang it, foiled again. Unless the robot army was ready in time…

By: menno

menno — Thu, 08 May 2008 17:38:33 +0000

Wait a sec. Isn’t GM’s total value $32 billion? With an $8 billion cash burn, that means Chapter 11 or Chapter 7 is likely to be before the inauguration next January.

Because, cash holdings is not the same as total value of a company. Many assets can’t be converted into cash.

Lord knows, GM has already sold the family silver, paintings, everything in the safe, and family jewels too…. I don’t think they have anything left in North America to flog for cash!

Saab might net them $1.98 if they could find someone stupid enough to buy it.

By: oboylepr

oboylepr — Thu, 08 May 2008 17:38:25 +0000

I wonder how Rick Wagoner will justify his bonus for 2008?

he probably feels he does not have to.

By: Cammy Corrigan

Cammy Corrigan — Thu, 08 May 2008 17:33:11 +0000

I wonder how Rick Wagoner will justify his bonus for 2008?

But it hasn’t happened yet, this is just a forecast.