Changes

In March 2009 GM reported that its auditors have raised substantial doubts about its ability to continue as a going concern, citing recurring losses from operations, stockholders' deficit and an inability to generate enough cash to meet its obligations.  GM has received $13.4 billion in federal loans, and the company is seeking a total of $30 billion from the government. During the past three years it has run up $82 billion in losses, including $30.9 billion in 2008. Bankruptcy appears likely.<ref>Nick Bunkley, "Auditors Raise Doubts About G.M.’s Viability," [http://www.nytimes.com/2009/03/06/business/06auto.html?hp ''New York Times'' Mar. 5, 2009]</ref> The Obama Administration has apparently decided that bankruptcy would be a mistake, and will try to keep the Big Three in operation.  

In March 2009 GM reported that its auditors have raised substantial doubts about its ability to continue as a going concern, citing recurring losses from operations, stockholders' deficit and an inability to generate enough cash to meet its obligations.  GM has received $13.4 billion in federal loans, and the company is seeking a total of $30 billion from the government. During the past three years it has run up $82 billion in losses, including $30.9 billion in 2008. Bankruptcy appears likely.<ref>Nick Bunkley, "Auditors Raise Doubts About G.M.’s Viability," [http://www.nytimes.com/2009/03/06/business/06auto.html?hp ''New York Times'' Mar. 5, 2009]</ref> The Obama Administration has apparently decided that bankruptcy would be a mistake, and will try to keep the Big Three in operation.  

Equally serious is the plight of the parts makers—who actually do most of the factory work that goes into cars. "The failure of a few key suppliers could have brought the entire industry to its knees," said the president of the Original Equipment Suppliers Association, where a third of the membership reported that it would face severe financial distress in the first quarter. The government is giving $5 billion in aid to this sector.<ref>Kendra Marr and Peter Whoriskey, "Auto Parts Makers Get $5 Billion Lifeline: U.S. Aid Boosts Hopes for the Entire Industry," [http://www.washingtonpost.com/wp-dyn/content/article/2009/03/19/AR2009031901597.html?hpid=topnews ''Washington Post'' Mar. 20, 2009]</ref>

Equally serious is the plight of the parts makers—who actually do most of the factory work that goes into cars. "The failure of a few key suppliers could have brought the entire industry to its knees," said the president of the Original Equipment Suppliers Association, where a third of the membership reported that it would face severe financial distress in the first quarter. The government is giving $5 billion in aid to this sector.<ref>Kendra Marr and Peter Whoriskey, "Auto Parts Makers Get $5 Billion Lifeline: U.S. Aid Boosts Hopes for the Entire Industry," [https://www.washingtonpost.com/wp-dyn/content/article/2009/03/19/AR2009031901597.html?hpid=topnews ''Washington Post'' Mar. 20, 2009]</ref>