{"id":519552,"date":"2010-04-07T12:40:00","date_gmt":"2010-04-07T16:40:00","guid":{"rendered":"http:\/\/www.autoblog.com\/2010\/04\/07\/write-downs-lead-to-gm-loss-of-4-3-billion\/"},"modified":"2010-04-07T12:40:00","modified_gmt":"2010-04-07T16:40:00","slug":"write-downs-lead-to-gm-loss-of-4-3-billion","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/519552","title":{"rendered":"Write-downs lead to GM loss of $4.3 billion"},"content":{"rendered":"<p>Filed under: <a href=\"http:\/\/www.autoblog.com\/category\/gm\/\" rel=\"tag\">GM<\/a>, <a href=\"http:\/\/www.autoblog.com\/category\/earnings-financials\/\" rel=\"tag\">Earnings\/Financials<\/a><\/p>\n<p><img decoding=\"async\" vspace=\"4\" hspace=\"0\" border=\"1\" align=\"right\" alt=\"\" class=\"right boarder\" src=\"http:\/\/www.blogcdn.com\/www.autoblog.com\/media\/2010\/04\/gm-250-1270653072.jpg\" \/><a href=\"http:\/\/www.autoblog.com\/make\/gm\/\">General Motors<\/a> has just announced it has completed fresh-start accounting as part of its quest to return to public ownership, and the numbers don&#8217;t exactly look good. GM says that it will announce a $4.3 billion loss for the fourth-quarter of 2009. <\/p>\n<p>Despite relatively strong sales last year, the company had to pay out two large lumps of cash. First, $2.6 billion went to a <a href=\"http:\/\/www.autoblog.com\/2010\/04\/02\/report-2009-uaw-membership-fell-to-lowest-figure-since-wwii\/\">UAW<\/a> retiree medical plan. Another $1.6 billion went out the door thanks to &#8220;foreign currency re-measurement loss.&#8221; Despite the daunting figures, GM still says it&#8217;s confident the company can get back on its feet and start operating at a profit by the end of this year. Given the fact that the company is still aiming to return the large majority of its <a href=\"http:\/\/www.autoblog.com\/2010\/03\/26\/report-gm-to-make-another-1b-loan-repayment\/\">US Treasury and Export Development Canada loans<\/a>, getting The General back on its feet may be easier said than done. Official press release after the jump.<\/p>\n<p>[Source: General Motors]<\/p>\n<p><a href=\"http:\/\/www.autoblog.com\/2010\/04\/07\/write-downs-lead-to-gm-loss-of-4-3-billion\/\" rel=\"bookmark\">Continue reading <em>Write-downs lead to GM loss of $4.3 billion<\/em><\/a><\/p>\n<p style=\"padding:5px;background:#ddd;border:1px solid #ccc;clear:both;\"><a href=\"http:\/\/www.autoblog.com\/2010\/04\/07\/write-downs-lead-to-gm-loss-of-4-3-billion\/\">Write-downs lead to GM loss of $4.3 billion<\/a> originally appeared on <a href=\"http:\/\/www.autoblog.com\">Autoblog<\/a> on Wed, 07 Apr 2010 11:40:00 EST.  Please see our <a href=\"http:\/\/www.weblogsinc.com\/feed-terms\/\">terms for use of feeds<\/a>.<\/p>\n<h6 style=\"clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;\"><\/h6>\n<p><a href=\"http:\/\/www.autoblog.com\/2010\/04\/07\/write-downs-lead-to-gm-loss-of-4-3-billion\/\" rel=\"bookmark\" title=\"Permanent link to this entry\">Permalink<\/a>&nbsp;|&nbsp;<a href=\"http:\/\/www.autoblog.com\/forward\/19429913\/\" title=\"Send this entry to a friend via email\">Email this<\/a>&nbsp;|&nbsp;<a href=\"http:\/\/www.autoblog.com\/2010\/04\/07\/write-downs-lead-to-gm-loss-of-4-3-billion\/#comments\" title=\"View reader comments on this entry\">Comments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Filed under: GM, Earnings\/Financials General Motors has just announced it has completed fresh-start accounting as part of its quest to return to public ownership, and the numbers don&#8217;t exactly look good. GM says that it will announce a $4.3 billion loss for the fourth-quarter of 2009. Despite relatively strong sales last year, the company had [&hellip;]<\/p>\n","protected":false},"author":6487,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-519552","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/519552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/6487"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=519552"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/519552\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=519552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=519552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=519552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}