Bailout for GM

It is interesting that GM wants money before year's end ... within a month of them asking for money. Do they not keep track of their finances to know when they will run out of money ... only to find out that in one month, it will be all over. This speaks of gross mismanagement and massive incompetence at all levels. How many people are in their accounting and finance department? Does the CEO not care what happens in finance?

Ford and Chrysler seem to be doing much better keeping track of their finances to know that they'll run out of money in 3+ months from time of asking.

Personally, I think GM doesn't want Congress to look at their accounting books to see how they mismanaged funds. So everything has to be immediate ... it's an emergency. There's no time for someone to examine their books with that kind of timing.

I worked as an administrator for years that had strict policies. There would always be these lamers who would come in and request things due to an emergency and bypass all protocol. My answer would be NO. After a couple of NO's, they get used to it and stop asking for emergency processes. Congress needs to do the same. These emergency lamers were often highly incompetent in the management of their projects.