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Man, just when we thought we were gonna have a day filled with Camino-age, bright-happy-and-shiny stories and other such nonsense, we're jolted back into icy cold reality (or a Michigan March) with news from the General. And guess what? The news aint so good. GM shares dropped 4% this morning after news of two new federal accounting probes into the automaker doing some "risky business" with their numbers. And since it doesn't appear "Old Time Rock n' Roll" can be heard over at the RenCen, we're assuming although the business may be risky, Wagoner aint out in a button-down and knickers. The Freep story tells all of the sordid details including subpoenas, share price dropping and oh yeah, GM may not be able to sell GMAC...oy.

BREAKING NEWS: GM shares fall after it acknowledges probes [Freep]

Related:
Good News For An Auto Supplier? Wha ? [internal]