GM Auditors Cite 'Doubt' about its Survival

March 5, 2009
Loss in 2008 was $30.9 billion

Auditors for General Motors have voiced "substantial doubt" about the struggling automaker's ability to stay afloat, in the company's annual report released on March 5.

"Our recurring losses from operations, stockholders' deficit and inability to generate sufficient cash flow to meet our obligations and sustain our operations raise substantial doubt about our ability to continue as a going concern," it said.

On March 5 General Motors warned of a "challenging" year ahead as it posted a $30.9 billion 2008 loss, bringing the tally from four consecutive years of bleeding balance sheets to a whopping $86.6 billion.

Copyright Agence France-Presse, 2009

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