Thanks to
Jalopnik for posting this info on his site.
General Motors released their financial results for 2006 and although financial types would look at it as an open-and-shut case of strong earnings, Jalopnik points out how the use of clever accounting terms such as "special items" can be used to disguise the fact that GM lost 2 billion last year.
That kind of financial loss could devastate a state, province or even a small countries entire economy, but because its GM, and in light of a strong year-end cash balance of $26.4 billion, its not so bad.
Or is it?
