General Motors bankruptcy: Execs may finally be accepting the inevitable

General Motors Corporation (GM) has been in a downward spiral for some time, but only now, it seems, management has accepted it.

GM lost $9.6 billion in the last quarter, and with sales in February plunging 53 percent compared to last year, it doesn't look like the troubled automaker's top line is about to get better any time soon. While GM may be on track with its cost-cutting and restructuring measures, these may not be enough to keep it viable. GM's troubles have sent it to the government for federal loans.