It's been impossible to talk about GM's prospects for bankruptcy without mentioning the much-vaunted Cash Reserves - the $20B or so that GM has tucked away in the piggy bank for a rainy day. But are the company's pockets really that deep?
It's a fair question to ask, in face of rumors that certain programs have been delayed or cancelled due to a lack of available funds. CNNMoney digs into the matter a bit further. $4B or so is said to currently be in a trust fund for retiree health care, perhaps $6-7B is money owed to suppliers that hasn't yet been paid, and perhaps another $6B is money that will eventually be owed to dealers in the form of incentives, but that's not paid until a vehicle sells to the customer. Since these figures are coming from multiple sources, it's not really fair to add them up and say that GM has only $5-6B in "real" cash, but one might say that the picture is not quite as rosy as the company suggests. I'd really recommend reading the whole article before forming your own opinion.