GM Posts $9.6B Loss, Burns Through $6.2B Cash

DETROIT (AP) - General Motors Corp. says it lost $9.6 billion in
the fourth quarter and burned through $6.2 billion in cash as it
sought government help to avoid running out of cash.
The nation's biggest domestic automaker lost $30.9 billion for
all of 2008 as it struggled against a U.S. sales slump and a global
GM has received $13.4 billion in federal loans and its
executives are in Washington, D.C., Thursday to talk to the Obama
administration about the company's request for up to $30 billion.
For the fourth quarter, GM says it lost $15.71 per share,
compared with a loss of $722 million, or $1.28 per share, in the
year-ago period.
Excluding special items, The Detroit company's loss was $9.65
per share. On that basis, analysts surveyed by Thomson Reuters
predicted a loss of $7.40 per share.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Justin on Feb 26, 2009 at 12:09 PM
    WOW. Lets keep throwing money at a problem and hope it fixes itself.


2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Register for Email
RSS Feeds
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 40345312 -
Gray Television, Inc.