Seriously, this does not look good.. at all.
I realize that parts suppliers will have hard times if GM fails, but the reality is that suppliers success is based on public demand for cars. If the public is demanding cars from Company A instead of Company B, then the suppliers need to also be providing parts for Company A.
In its own restructuring plan, GM said Tuesday it would need up to $30 billion from the U.S. Treasury Department, up from a previous estimate of $18 billion and including $13.4 billion it has already received. It also said it would need to cut 47,000 jobs worldwide and close five more U.S. factories. GM said it needed about $6 billion in support from the governments of Canada, Germany, Britain, Sweden and Thailand to provide liquidity for its overseas operations in those countries.