[A-List] SIMPLY STAGGERING: GM took an $8.6 billion loss for 2005

["Charles Brown" <cbrown@xxxxxxxxxxxxxxxxx>]

*	From: "Henry C.K. Liu"
More staggering is GM dividend payout of $2 which comes to 8.45% yield
on day of market share price. The payout amounts to $1.1 billion. With a
cash reserve of $19.2 billion and a bank credit line of $5.6 billion,
and effectively shut out of the commercial paper market,  and estimates
of $1.5 billion negative cashflow in case of a strike, GM will be
insolvent  in about 13 weeks. Benefit obligations to ex-GM workers who
transferred to bankrupt Delphi lies in the range of $3.6 billion to $12
billion, With numbers like that can bankruptcy be far behind, even if
the government bails out the pension obligations?



^^^^^^
CB; Looks like we need to nationalize GM and Ford.