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Friday, December 5, 2008

Unbalanced

The GM Chief Financial Officer obviously hasn't seen the government's balance sheet...

DETROIT -(Dow Jones)- General Motors Corp. (GM) expects the federal government, possibly in the form of an oversight board charged with overseeing the auto maker's turnaround, to have a key role in restructuring the company's debt.

"It is very, very evident from the government's perspective that we're going to have to restructure the balance sheet to make sure we have a viable enterprise going forward," Chief Financial Officer Ray Young said Wednesday. He added that the government will have a say on how this restructuring gets done. (Read Entire CNN Article)

Now, can we get someone to come in and force our government to restructure its balance sheet "to ensure we have a viable enterprise going forward?"

http://money.cnn.com/news/newsfeeds/articles/djf500200812031112DOWJONESDJONLINE000680_FORTUNE5.htm

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