GM's 15 billion loss continues plummet

It was one thing to hear that Ford lost almost 9 billion dollars in the second quarter and then learn that Volkswagen had overtaken them as the world's number 3 car seller. But even as these numbers weren't huge surprises, another big negative number suddenly comes out for General Motors. Their posted second quarter loss? Try 15 billion.

While this comes from different factors (plummeting North American sales, expenses due to labor unrest and a major restructuring plan have all contributed to the drop), it's still nothing to slough off as the number is the third largest loss in the company's history.

GM of course remains steadfast in their charge that the positioning they are doing and planning will get them back in the black, stating that they have enough cash to make it through the United States' credit crunch, but this cannot possibly happen again, in my eyes.

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GM's 15 billion loss continues plummet

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