GM May Not Survive: Auditors

Its auditors, Deloitte & Touche, raised those concerns, which were noted in GM's annual report. Here's what was said in the filing:

"Our recurring losses from operations, stockholders’ deficit and inability to generate sufficient cash flow to meet our obligations and sustain our operations raise substantial doubt about our ability to continue as a going concern."

Ugh, that's pretty rough.

General motors has a March 31 government deadline to have signed agreements of concessions from debtholders and the UAW to show the federal government that the company can continue to operate. It detailed these changes in the Feb. 17 filing it submitted to the Treasury Department. The plan laying off 47,000 workers worldwide by the end of the year and closing five more U.S. factories.

GM said in its filing that its future depends on successfully executing the plan.

General Motors is down 17.7%, to $1.81 at the time of this writing.