The Company is a supplier of driveline components to General Motors Corporation for its rear-wheel drive light trucks and SUVs manufactured in North America.
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"Dead company walking. Dead company walking. We got a dead company walking here." -From "The Green Mile".
Let me break this down so that even the publicly schooled can follow:
GM gave $100 million to AXL. True. AXL also agreed to take on UAW workers with liabilities in excess of $800 million and let GM out of a contract. A cheap price to pay.
This company has $48 dollars in liabilities and $1 in cash. It's losing more money per month than it has in cash. This company will probably try an offering to raise cash. An irrelevancy. It will still be out of money by next year even if it succeeds.
UAW workers and AXL shareholders should sue after this thing goes bankrupt. They have been completely duped.
Note: I was publicly schooled so don't give this post to much credit.