GM and Ford losses, cash burn dire (Reuters)

U.S. flags flutter in the wind in front of the General Motors Corp headquarters in Detroit, Michigan November 7, 2008. General Motors Corp posted a worse-than-expected $4.2 billion operating loss and burned through $6.9 billion in cash in the third quarter as the top U.S. automaker struggled with a deepening sales slump that has forced it to seek a federal bailout. (Rebecca Cook - UNITED STATES/Reuters)Reuters - General Motors Corp and Ford Motor Co reported far deeper-than-expected quarterly losses on Friday and said their rate of cash burn had accelerated, as an extended slump in car sales raised questions about the future of the U.S. auto industry.


Related posts

Published in General, November 8th, 2008
Tags: , , , , , , , , , , ,

You must be logged in to post a comment.