Top General Motors executives including CEO Rick Wagoner are taking their pleas for billions in new loans to members of the Obama administration's auto task force today. That comes on the same day that GM posted a loss of nearly $31 billion and said its auditors were likely to cast doubt on its viability.
GM said it could receive a "going concern" notice from auditors when it files its annual report for 2008 with U.S. securities regulators by the middle of March.
"It reinforces for us the notion that GM will need multibillion government assistance to continue as a going concern," S&P equity analyst Efraim Levy said in a note for clients.
GM, which is asking for up to $30 billion of U.S. government aid, also warned its pension plans were underfunded by about $12.4 billion as of the end of 2008, raising the risk of a greater funding gap in the years ahead.
And that leads to our Fast Money Reader Poll. Do you think the government should bailout GM, at any cost.
CNBC.com with wires