GM sold 51% of GMAC to Cerberus for more than Cerberus paid for 81% of Chrysler. I'm not sure, but I think it was $11.4 billion.

 

I'd love to see an assessment by an accountant or evidence of similar balance sheets for other companies that have successfully turned themselves around. Put another way - I really, really disagree with your statement. I'm unaware of a healthy company that has a negative shareholder equity.

There's a big difference between concern for the economy, and worries about cash flow. Investing into a downturn is often the wisest way to deal with slowing sales; GM is doing exactly the opposite, because they can't afford to invest into new products.

You speak of journalistic bias; I think you need to set aside yours and look at the numbers. It's possible to put a positive spin on many of GM's recent actions, but man, their financials are scary!