Pile of cash
General Motors has posted a $9.6 billion dollar net loss for the fourth quarter, a larger loss than what was anticipated by Wall Street. The company also burned through $6.2 billion in cash during the last 3 months of the year, ending the quarter with $14 billion in cash, about what it needs to continue operations. Based on most economic predictions, things are going to look like this for at least the next 2 years, so get used to hearing about more layoffs and more red ink for major corporations. For the full article, head on over to CNN.
Tags: CNN, General Motors, GM
