Out of Time, Out of Money, Out of Options GM Spirals Into The Abyss

The most stark and striking revelation of the survival plan GM submitted yesterday was just how bad things are for them. The automaker who suffered a brutal November sales, down 41% from the year before, publicly admitted that without receiving $4 billion dollars by the end of this month, they will go into default.

GM’s President and COO Fritz Henderson put it bluntly, “there isn’t a plan B, absent support the company can’t fund its operations.”