Thought that GM was all about starting to make money now that the good
guys are in charge. Guess they must have misreported or something.
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Breaking News Alert
The New York Times
Wed, April 07, 2010 -- 10:29 AM ET
-----
G.M. Reports $4.3 Billion Loss in Second Half of 2009 After Bankruptcy
General Motors said Wednesday that it lost $4.3 billion in
the six months after emerging from bankruptcy protection but
that it had positive cash flow of $1 billion in that period.
In its first earnings report since the bankruptcy, the
automaker said it had $22.8 billion in cash reserves as of
Dec. 31.
The new company said $3.9 billion of the $4.3 billion it lost
between July 10 and Dec. 31 was attributable to a settlement
with the United Automobile Workers union over retiree health
care liabilities and to a "foreign currency re-measurement
loss."
Read More:
http://www.nytimes.com/2010/04/08/business/08motors.html?emc=na
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