Even with the much ballyhooed “Cash for Clunkers” program, General Motors STILL showed a loss of $1.2BILLION dollars recently and yet have now committed to paying back the government $1BILLION a quarter till the loan has been repaid.
So does that mean the next report of “losses” will likely be $2.2BILLION? I’m not a math wizard, but doesn’t that seem…ummm… STUPID?
I don’t blame GM for wanting to get out from under the government. I really don’t. I DO think this may be another in a series of stupid moves on GM’s part. If you’re posting losses…why in God’s name would you double them on purpose?
Someone needs to explain this to me.
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