GM’s (GM) auditors expressed doubt that the car company will remain a “going concern.” Accountants often offer these opinions. They don’t usually mean much. If GM gets $100 billion from the federal government tomorrow it no longer has the problem.
The idea that GM might not make it has been hovering around off and on for about three years.
The auditor’s opinion show the huge weakness in the public accounting profession. It is set up to make these proclamations once a year. Often they are made so late that they have no value to shareholders.
At this point, it does not matter much, GM is effectively bankrupt. The only issue is who will hold the assets.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
