GM earnings

see "General Motors Posts Big Loss, Shares Dip" (AP via Yahoo, 1/26/06) http://biz.yahoo.com/ap/060126/earns_gm.html?.v=10 GM lost $4.8 billion in the last quarter...that's $53 million per day! It's amazing that the stock is still trading where it is. I suppose the market hopes that they can restructure, along the lines of what Ford just announced. But I think their years of buddying up to unions makes their long-term prospects dismal. The CFO of GM still claims they will not file for bankruptcy, and I think they will be able to stave it off for a good long time, at least a year. But I'd be surprised if they don't have to reorganize eventually.
  • T F Stern
    Comment from: T F Stern
    01/26/06 @ 07:43:08 pm

    I never lost that much, not even in a year. Talk about not understanding how profit and loss works.