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mdmc Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-01-08 07:34 AM
Original message
Bummer
GM posts $15.5 billion 2nd-quarter loss
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20080801/BIZ/80801008/-1/NEWS
The loss also includes $1.3 billion worth of write-offs because of a decline in value of GMAC Financial Services' portfolio of trucks and sport utility vehicles. Those vehicles' sales have plummeted due to high gas prices.
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shadowknows69 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-01-08 07:40 AM
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1. They need to ask Exxon for a loan
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BrklynLiberal Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-01-08 07:43 AM
Response to Original message
2. Here's some irony..It was probably the influence of companies like Exxon that kept companies
like GM from going with the smaller, more efficient cars way back when it could have made a difference.

Talk about something coming back to bite you in the ass....
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TheCowsCameHome Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-01-08 07:50 AM
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3. They built their foundation on vehicles that are no longer "in"
and now it's too late - imports have taken over.
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