http://www.digitaljournal.com/article/139541

General Motors releases 2006 financial results showing $2 billion loss

Posted Mar 14, 2007 by Just call me joe

http://jalopnik.com/cars/news/breaking-gm-finally-releases-2006-financial-results-showing-profits-and-not+so+much-profits-244072.php

General Motors released financial information which seems to point to strong 2006 earnings, but as Jalopnik points out, under the "special items" section of their financial results, there appears to be a whopping $2 billion loss.
Untitled
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?