whats going to happen to GM when no one can get finance to buy a car
http://www.bloomberg.com/apps/news?pid=20601082&sid=abfBJdMWTBtM&refer=canada
GMAC, Ford and Chrysler's revenue over the past 5 years are much like like housing prices, low rates and lending standards, held up sales figures for all the auto makers
http://digiads.com.au/car-news/latest-AUTOMOTIVE%20INDUSTRY%20TRENDS-news/Auto_Dealerships_Initiated_Nearly_$50_Billion_200704.html
$50B in auto are sub prime per year, or around 20% of all new car transactions
GM is already technically insolvent
http://finance.yahoo.com/q/bs?s=GM
what would say a $20B revenue hit make on the balance sheet if sub prime auto drys up?
JP Morgan says sell GM Bonds
http://www.detnews.com/apps/pbcs.dll/article?AID=/20080213/BIZ/802130432/1148/AUTO01
GM will have over $70 billion owed in pensions and health care benefits to its current and future retirees. For a company that has consistently lost a few billion dollars per year over the last few years, this is a problem.
Who is going to lend GM the money to go on?
largest ever annual loss for an automotive fi, page-2
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