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Friday, August 01, 2008

GM: $15.5 Billion Loss

by Calculated Risk on 8/01/2008 09:14:00 AM

From the WSJ: GM Swings to $15.5 Billion Loss Amid Write-Downs, Sales Slump

General Motors Corp. recorded a stunning $15.5 billion second-quarter net loss, slammed by sinking auto sales, money lost on bad lease deals and costs tied to its North American restructuring.