Friday, March 17, 2006

What accounting errors will GM announce next quarter?

Yesterday, they bumped the 2005 loss up to $10.6 billion, an increase over the $8.6 billion loss announced earlier this year. They bumped the restructuring charges by $400 million, their Delphi exposure by $1.3 billion and their goodwill impairment charges by $439 million. And then they've got another $500 million in misapplied cost of sales to account for at some point.

How long more will they last? Will Toyota change its name to GM when they buy the company as SBC changed its name to AT&T? Or will the GM name be worth nothing by then?

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