…or “What does it look like to lose about $2000 per second?”
Alfred P. Sloan is rolling in his grave somewhere. GM has the financial equivalent of flesh-eating bacteria, cannibalizing its own funds to stay afloat, mortgaging its own brands and capital to operate.
The estimates I saw yesterday were in the $7 Billion to $9 Billion range. Wow.
We need some moniker besides “The Perfect Storm” for this automotive maelstrom…this is more like that 200 ft Tsunami at the end of Deep Impact