GM Bankruptcy `Not Impossible,' Merrill Analyst Says (Update3) By Greg Bensinger and Jeff Green July 2 (Bloomberg) -- General Motors Corp., battered by the slowest U.S. sales market in 15 years, faces the possibility of bankruptcy and may need to raise as much as $15 billion, a Merrill Lynch & Co. analyst said. The ``dramatic drop-off'' in sales probably will continue through 2009, forcing GM to find additional funding, analyst John Murphy, who cut the Detroit-based automaker's shares to ``underperform'' from ``buy,'' said in a report. ``Bankruptcy is not impossible if the market continues to deteriorate.''
By Greg Bensinger and Jeff Green
July 2 (Bloomberg) -- General Motors Corp., battered by the slowest U.S. sales market in 15 years, faces the possibility of bankruptcy and may need to raise as much as $15 billion, a Merrill Lynch & Co. analyst said.
The ``dramatic drop-off'' in sales probably will continue through 2009, forcing GM to find additional funding, analyst John Murphy, who cut the Detroit-based automaker's shares to ``underperform'' from ``buy,'' said in a report. ``Bankruptcy is not impossible if the market continues to deteriorate.''
Ladies and gentlemen, fasten your seat belts. It's going to be a bumpy ride. Now where are we going and what's with the handbasket?
you are the media you consume.
But all in all, the steam locomotive builders were unable to change quickly enough to diesel locomotives to be competitive and some even tried like Baldwin and ALCO. Why will gasoline automobile manufacturers be any different?
GE still builds diesel electrics. Ironically, GM sold Electro-Motive Division (EMD), the second largest locomotive builder, in 2005 to the private Greenbriar Equity and Berkshire Partners.
