James Chanos

'Nightly News': Is General Motors Going Out of Business?

By Jeff Poor | June 27, 2008 - 11:37

General Motors has been in business since 1897, but there are fears now propagated in the media that the longtime American icon faces an uncertain future.

Brian Williams raised the possibility of General Motors (NYSE:GM) going out of business on the June 26 "NBC Nightly News" to Jim Cramer, host of CNBC's "Mad Money."

"[J]im, I know you talk about this, think about this everyday for a living and have a formula regarding this," Williams said. "But first, what's going on out there? I heard one analyst today said, ‘GM will go out of business,' though I know a lot of people disagree with that and it's a scary thought."