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November 24th, 2008 
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Largest automaker company General Motors Corporation are facing serious financial crisis. Experts are blaming the global financial crisis. GM’s chief executive Rick Wagoner said that, the company’s cash reserved came down to $21bn in June to $16.2bn in September. It will need additional $2bn till the end of the year. That will leave the car giant only $14bn to launch with in 2009. Although the company claimed to have planned $15bn cost cutting since January 2008 but it still would force the company to sell there asset or request government funding to endure in 2009. However GM has lost 25 per cent of share on 10th November after analysts at Deutsche Bank said they expected the stock eventually to be worth nothing at all. The bank also said:
“Even if GM succeeds in averting a bankruptcy, we believe that the company’s future path is likely to be bankruptcy-like,”
General Motors is a multinational automobile manufacture which was found in 1908. It is also the world’s largest automaker as measured by global industry sales. About 266000 employees are manufacturing and selling cars and tracks about 35 countries around the world. However the company has $38.7bn losses in 2007.
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