GM Loses Big
This is no surprise. Someone explain to me again why the gov’t should be pouring money into this black hole:
General Motors Corp. on Thursday reported another massive loss in the fourth quarter, burning through $6.2 billion in cash as the auto maker continues its push for more funding from the federal government.
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The Detroit giant reported a loss of $9.6 billion, or $15.71 a share, compared with a loss of $1.5 billion, or $2.70 a share, in the year-ago period.
And while we’re talking black holes:
American International Group Inc. Chief Executive Officer Edward Liddy is under pressure to convince taxpayers they won’t lose billions of dollars in the U.S. rescue of the firm after his plan to sell assets stalled.
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Just say NO. Hell no works too.
Comment by Maria — 2/26/2009 @ 7:16 am
General Motors comes with an attached Democratic voter block.
Comment by Fred — 2/26/2009 @ 10:22 am
So true. A very large one at that. Not to mention a large source of Dem campaign donations.
Comment by BMB — 2/26/2009 @ 10:53 am
Yeah, you’ll notice that while they touted “job saves” all the car and supply companies have dumped at least 10 to 20 percent of their workers. Some save there. I’m thinking those cuts ain’t over either. Black hole.
Comment by Maria — 2/26/2009 @ 2:06 pm