General Motors, Bailouts | featured news

General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.

The president's chief of staff criticized U.S. car companies Sunday for relying too long and gas guzzlers and not investing enough in alternative energy vehicles.

General Motors Corp. posted a $9.6 billion fourth-quarter loss Thursday and said it burned through $6.2 billion of cash in the last three months of 2008.

GM's viability plan will offer the U.S. a choice to commit billions more in bailout money or provide financial backing as part of a bankruptcy filing.