I don't think it will go that, the company will stretch every thing it can until things get better. But that goes for all most any company right now.


:

General Motors Corp. Chairman and CEO Rick Wagoner says the auto maker is not heading for bankruptcy, despite warnings from analysts that question the company’s liquidity as its stock prices continue to fall and cash reserves dwindle.

GM says it has $24 billion in cash and marketable securities on hand and is able to tap another $7 billion in credit. However, the auto maker reportedly is spending an estimated $3 billion a quarter as consumers shy away from large SUVs and trucks in the wake of escalating gasoline prices.





http://wardsauto.com/home/gm_bankruptcy_wagoner/