主题：GM看来是快不行了。 -- 红男爵
边吃饭边看看新闻。GM快不行了，现金只能运转到2009年，看来是熬不过这个危机周期了。三大中最大的一个首先消失。行内的XD给说说详细？
[URL=]http://www.cbc.ca/money/story/2008/11/07/gmquarter.html
[/URL]
General Motors saw its third-quarter sales tumble and warned Friday that its deteriorating liquidity is approaching a precarious position.
The company said its estimated liquidity during the remainder of 2008 "will approach the minimum amount necessary to operate its business."
GM reported a net loss of $2.5 billion US, or $4.45 per share, including special items. That compares with a net loss from continuing operations of $42.5 billion, or $75.12 per share, in the third quarter of 2007, which included a non-cash accounting charge of $38.3 billion related to deferred taxes.
Factoring out special charges, GM lost $4.2 billion, or $7.35 per share, compared with a net loss from continuing operations of $1.6 billion or $2.86 per share in the same period last year.
The automakers' overall sales came in at $37.9 billion, down sharply from $43.7 billion.
"The third quarter was especially challenging for the auto industry," said Rick Wagoner, GM's chairman and chief executive officer.
"Consumer spending, which represents close to 70 per cent of the U.S. economy, fell dramatically, and the abrupt closure of credit markets created a downward spiral in vehicle sales," Wagoner said in a release.
The company said Friday it sees a soft U.S. market for the remainder of 2008 and into next year.
GM's North American automotive operations saw a pre-tax loss of $2.3 billion, with revenue falling $4.1 billion to $22.5 billion.
像是医生检查完病人，除告诉病人病情，最后说句：“想吃啥就吃点啥吧。”
"If you look at how much cash they have, that means that they will basically be flat out of cash in about 7 months," Alisa Priddle, a senior automotive reporter for the Detroit News, told CBC.
"When you're out of cash, that's when you start talking things like bankruptcy and Chapter 11 [court protection]," she said.
昨天3大的CEO与共和党大老们关门会议，今天密歇根州长说会与奥巴马谈，关键都在于希望联邦政府象救助金融公司那样给3大输血。
不然的话，明年初3大有可能将同时 file Chapter 11 保护，然后大批LAYOFF。
另，GM宣布不再与克莱斯勒商讨合并的可能，这样克莱斯勒很可能被肢解卖掉。
大市增长是因为前两天跌得太狠了，但较弱的行业（汽车与金融）仍旧乏力。
这样美国人可以去开比较省油的日本车或欧洲车了。本田和丰田在美国都是有厂的。
如同当年美国的民用航空和胶卷工业。
将来还会看到医药工业走这条路。
再走不下去了，就是国有化了。
英镑拆借率跌了不少
这公司又不是存钱罐，流动资金应该不会多到够几年用的地步。大多数资产应该是在各种产业中流动的。那么对于这种制造业为核心的公司（华尔街那些抢钱的公司不算），一般拥有多长时间的现金算是健康的呢？
谢谢科普
俺觉着是基于预测现金流的情况,预计到某个时候将不会有现金支付需要的现金流出,即资金链断裂?
只不过公司评级差，公司债的利息就高，高到你吃不消。
卖Subsidiary就是把公司会下金蛋的母鸡卖掉，最终就是越卖越差。好比去年Notel把Umts部门卖给了Alcatel-Lucent，今年Bell-Telus就上马Umts项目，尽管是华为和NSN拿下了，但Globalive和Videotron也要上了。干瞪眼。
GM现在也就是裁员，关生产线，然后涂点口红当留莺。
本身又被评成垃圾股，融资成本过高。这下坐蜡了。等着政府给钱bail－out吧，这样米国人民以后就天天唱《社会主义好》
当然健康的现金流至少要是现金净流入(increase in cash).同时这个值越大,抵抗风险能力越高,融资能力越高,前景越被看好.
如果像GM一样现金净流出(decrease in cash),那断流时间长短决定它举债能力的高低,所以自然也是越长越好
所以综上所述,现金流是越大越好(前提是现金净流入)
至于现金在手导致其他部分受影响,首先现金流不仅仅是现金,investing gain, operating gain和financial gain都算在内,这些都是短期(short-term)就可获得的利益,同时也被允许继续流转,所以除非真全都是现金,否则我想影响不会很大(全是现金的机会太小了)