GM taking $39 bln non-cash charge in third quarter

Discussion in 'Wall St. News' started by otcstockfund, Nov 6, 2007.


    SAN FRANCISCO (MarketWatch) --
    General Motors Corporation
    said late Tuesday it will record a third-quarter non-cash charge of $39 billion because of accounting standards related to its deferred tax assets in the U.S., Canada and Germany. The company said the money is needed to establish a valuation allowance in part to compansate for unanticipated losses at GMAC Financial Services. GM is scheduled to report its third-quarter results on Wednesday.
  2. Bowgett


    Market cap $20B, write off $40B ...

    life is good
  3. Daal


    can someone explain how exactly this will affect their balance sheet and income statement
  4. fantastic news.

    probably means stocks will trade higher.

    didnt you know.

    credit crunch, huge writedowns, big losses.

    get long get long its all going up
  5. This is time 2 buy

    No one cares about GM ..only one stock in the dow jones. Really it's not a big deal.

    GM will rbeound to 40 in a few months