I - N - C - O - R - R - E - C- T !!!!!

Here are the F - A - C - T - S

• Global Automotive Operations posted Net Income of $392 M, including net impact of American Axle strike. Given the scope of the company and the industry, this is pretty much a break even. North America lost money, Europe, Asia, Latin America and Middle East made enough to more than offset the North American losses.
• GM's share of GMAC's losses was a $1.45B write down on value of GM held investment in GMAC. This is not a cashflow loss, but a devaluation of GMAC.
• GM took a $731 M non-cash charge to estimate future costs of supporting Delphi's bankruptcy reorganization

I can't imagine where you may have gotten any information of a $39B loss, unless it was a recap of the 2007 story.

Peace,

Martin

I am NOT the official voice of GM with respect to Hybrid issues

I am NOT the official voice of GM with respect to Hybrid issues

I am NOT the official voice of GM with respect to Hybrid issues