[mojito]

"In its recent IPO filing, GM said it's been working on improving its accounting procedures, but as of June 30, "our disclosure controls and procedures were not effective at a reasonable assurance level."

Translation: We have no idea how much money we spend or where we spend it. We're clueless.

http://news.yahoo.com/s/ap/20101115/ap_on_bi_ge/us_gm_ipo_red_flags

[mojito]

Here's a live link:

Reasons to sit out GM’s initial stock offering

http://news.yahoo.com/s/ap/20101115/ap_on_bi_ge/us_gm_ipo_red_flags