Although GM has almost 17 billion of cash, it could run through that amount very quickly in a strike scenario, accelerating the time frame for a bankruptcy filing.
More Quotes from Shelly Lombard:
It doesn't sound like the UAW is in the mood to be accommodating. So it looks like GM isn't going to get any more relief on the cost side until 2007. If they don't get it then, this is going to be an ugly situation.Shelly Lombard
The market has priced out near-term bankruptcy risk. But the company still has industry risk, execution risk and turnaround risk.
Shelly Lombard
While we give GM a 'B' for effort, this news is not as compelling as it sounds.
Shelly Lombard
The numbers were great ... they have great ratios, they have very affluent subscribers and their revenue per subscriber goes up every month. These guys are what every cable company wants to be when they grow up.
Shelly Lombard
A month ago I thought it was a greater than 50 chance they would strike a deal. Now I'm not so positive.
Shelly Lombard
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