- Revenue - $30 Billion
- Loss of 5.90 Billion Ex items - this is much greater then the 4.5 Billion loss expected.
- General Motors burned through 6.2 billion in cash during the quarter
- GM lost 16.8 billion in 2008
- GM now has 14 billion in cash on hand - getting really close to the 10-12 billion needed to stay alive.
"2008 was an extremely difficult year for the U.S. and global auto markets, especially the second half," Chairman and CEO Rick Wagoner said. "These conditions created a very challenging environment for GM and other automakers, and led us to take further aggressive and difficult measures to restructure our business.
"We expect these challenging conditions will continue through 2009, and so we are accelerating our restructuring actions. At the same time, we are continuing our commitment to exciting, fuel-efficient cars and trucks, and the leadership in advanced propulsion technology."
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free