" It 's going to be difficult for the rest of the year , " said chris liddell , chief financial officer . " We 're really still not sure we 're out of the woods . "
Chris liddell , gm 's chief financial officer , disclosed that almost every big us mutual fund had applied for shares under the ipo , making them the carmaker 's biggest new shareholders .
Mr liddell said that microsoft was not anticipating any further big declines from current levels of spending by its customers , and sees " the potential for improvement " in 2010 .
But mr liddell said that before gm could consider a public offering three things must happen : vehicle sales must continue their recovery ; recently spooked financial markets must steady ; and gm must provide consistent proof that it knows both how to build good cars and sell them profitably .
