GM, here we go...

Martinghoul · Mar 5, 2009

Quote from CaptainObvious:

Welcome to earth. I hope you enjoy your stay here. Those of us that have been here awhile have already priced in this risk.

You're seeing the obvious, but not seeing the point. Pls see my 12:40 post...

GTS · Mar 5, 2009

Quote from Martinghoul:

Has a GM auditor made such a statement in official documents before? Not to my knowledge, which makes the statement news, by definition. As to its significance, pls see my previous post.

Its an annual audit, the situation did not exist before so this would be the first audit that occurred since GM ran into serious trouble.

All I am saying is that this audit statement formalizes something that was already well known and widely reported. Even GM management has said as much (if they don't get a bailout they will have to file).

Martinghoul · Mar 5, 2009

Quote from GTS:

Its an annual audit, the situation did not exist before so this would be the first audit that occurred since GM ran into serious trouble.

All I am saying is that this audit statement formalizes something that was already well known and widely reported. Even GM management has said as much (if they don't get a bailout they will have to file).

For sure and I agree with you. I am trying to make a point that, due to the process being largely political at this point, the formalization of the obvious is meaningful, at least to me.