Yesterday, General Motors Corp. (GM) issued a statement indicating, among other things, that it has advised the Presidential Task Force on the Auto Industry that it would not need $2 billion in government funds that it had requested earlier this month. The release noted that lack of need resulted from “the acceleration of GM’s company-wide cost reduction efforts as well as pro-active deferrals of spending” over the past two months. This statement comes one week after GM filed its Form 10-K filing in which the auditor’s opinion noted that GM’s current condition and operations raised a substantial doubt about the company’s ability to continue as a going concern. GM noted that it remains contact with the Task Force with respect to topics of mutual concern, including GM's restructuring actions, liquidity position and the timing of future funding requests.