GM loses 38.7 Billion in 2007

The 2007 financial results were not kind to GM. In fact, they were downright cruel, the kind that bullies do when a victim is already down for the count, hanging over them dangling their spit as they laugh.

Ok, enough of the bad memories...but anyways....In the final numbers, GM actually posted a net loss of 23 million in 2007, but when you consider non cash charges thrown in the mix and other specialty line items, the Detroit automaker ended up losing a whopping 38.7 billion dollars.

Now, you have to consider that in comparison to 2006, GM actually made a global amount of 7 billion more in profit, and while the finger is solidly pointed at the financial arm of the automaker for the loss--GMAC--the increase in cash profit from last year is solidly due to a large emphasis on the weak dollar in the world outside of the US as well as growing regions in other remote areas as well.

And here I am worrying about my tax bill....Yikes.

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GM loses 38.7 Billion in 2007

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