Looks like General Motors won't survive the next three months without a major government bailout. At the current burn rate of $2.3 billion per month, GM will be out of money in 90 days.
Politically, it is impossible to let GM fail right now. Some estimates put job losses from a GM bankruptcy at 2.5 million in 2009. The problem is, the company is completely inept, and a simple cash bailout won't change a broken corporate culture. This scene from the PBS Frontline show "Heat" is quite poetic:
A picture is worth a thousand earnings statements. An inconvenient truth indeed.