{"id":10037,"date":"2009-03-05T00:00:00","date_gmt":"2009-03-05T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"gm-warns-it-may-be-forced-into-bankruptcy","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/gm-warns-it-may-be-forced-into-bankruptcy.html","title":{"rendered":"GM warns it may be forced into bankruptcy"},"content":{"rendered":"<p>Reuters &#8211; General Motors Corp on Thursday said its auditors had raised &quot;substantial doubt&quot; about its ability to survive outside bankruptcy if it fails to stem its losses and stop burning cash.       <\/p>\n<p>The &quot;going concern&quot; warning from the struggling U.S. automaker had been expected, but underscored the stakes for GM as it seeks up to $30 billion in U.S. government aid to restructure outside a court-supervised bankruptcy process.<\/p>\n<p>GM&#8217;s shares dropped 15 percent to $1.87 in premarket trading.<\/p>\n<p>GM said its creditors had agreed to waive a requirement that could have allowed them to force the automaker to repay more than $6 billion in loans because of the warning in order to allow GM to press its case for government aid.<\/p>\n<p><a href=\"http:\/\/www.reuters.com\/article\/GCA-autos\/idUSTRE52428I20090305\" target=\"_self\">Read Complete Article <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; General Motors Corp on Thursday said its auditors had raised &quot;substantial doubt&quot; about its ability to survive outside bankruptcy if it fails to stem its losses and stop burning cash. The &quot;going concern&quot; warning from the struggling U.S. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4870,8614,8617,8472,113,2202,8616,7209,131,129,4326,8615],"class_list":["post-10037","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-automaker","tag-bankruptcy-process","tag-creditors","tag-general-motors-corp","tag-general-motors","tag-gm","tag-going-concern","tag-government-aid","tag-loans","tag-losses","tag-reuters","tag-substantial-doubt"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10037"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10037\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}