dtwclipper
Posts: 6668
Joined: Wed Oct 29, 2003 3:17 am

GM Posts 39 Billion Dollar (on Paper) Loss

Wed Nov 07, 2007 12:46 pm

General Motors Corp. will report the biggest loss in its history today -- on paper -- when it takes a $39-billion noncash bookkeeping charge, the automaker said Tuesday in a news release after markets closed.

It almost certainly will be the biggest one-quarter net loss in the history of the auto industry, though it will not mean the company has any less money on hand.

http://www.freep.com/apps/pbcs.dll/a...AID=/20071107/BUSINESS01/711070338
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Emirates773ER
Posts: 1318
Joined: Mon Jun 27, 2005 9:10 am

RE: GM Posts 39 Billion Dollar (on Paper) Loss

Wed Nov 07, 2007 2:17 pm

Get ready for a sea of red, declining US dollar and forward charging loonie. Time to pack my bags and head down south for some shopping.  Wink
The Truth is Out There ---- Face It!!!!!
 
dtwclipper
Posts: 6668
Joined: Wed Oct 29, 2003 3:17 am

RE: GM Posts 39 Billion Dollar (on Paper) Loss

Wed Nov 07, 2007 2:23 pm

Quoting Emirates773ER (Reply 1):
Time to pack my bags and head down south for some shopping.

I'm not sure how much of an issue the GM loss will be.

Quoting Emirates773ER (Reply 1):
forward charging loonie

On the other side of your optimism, we don't travel to Canada much any more. We would make two or three trips to Stratford and Toronto a year and do a lot of shopping....so Canada will loose on tourist dollars. On the same note, my dad made a subsantial pledge to the Stratford Festival in US dollars, so they will loose money there too.
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