Doctor, It Hurts When I Do This…

Then Don’t Do That: GM Goes Through $6.2 Billion in Cash In Last Quarter of 2008
General Motors released its fourth quarter results this morning and guess what? They made a profit!
Haha. I’m kidding, of course. GM lost $9.6 billion in the quarter and said it “burned through $6.2 billion of cash in the last three months of 2008.”
Let’s do the math on this, shall we? $6.2 billion in cash for 90 days is roughly $68.9 million per day or just over $2.8 million an hour if you assume that everyone at GM was working hard to lose …read more