GM Integrity In Peril As Errors Mount

Fritz Henderson

Although GM announced it would sub­mit its Form 10-K on time to fed­er­al reg­u­la­tors, the fil­ing has been delayed due to the dis­cov­ery of last minute account­ing prob­lems with mis­stat­ed cash-flow lev­els at GMAC. The delay in fil­ing its annu­al report height­ens the sense of cri­sis sur­round­ing GM and may impact its efforts to sell a major­i­ty stake of GMAC.