By Adam Davidson

GM has no confidence in its own financial reports. The company says that “our disclosure controls
and procedures and our internal control over financial reporting are currently not effective.”
In other words, GM isn’t confident in its ability to understand its own financial condition…

Continue reading the article . . .

Related reading:

GM Shares Jump in Post-IPO Return to Market
Reuters (18 Nov 10)

GM Boosts IPO Size to Reduce U.S. Government Stake
Reuters (18 Nov 10)

GM IPO Raises $20.1 Billion
Reuters (17 Nov 10)

HFT King Getco To Make Sure GM IPO Does Not Crash, Will Be Designated Market Maker
Zero Hedge (15 Nov 10)

GM IPO Leaves Small Investors Behind
TheStreet (15 Nov 10)

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