The biggest loss in industry.
Posted February 13, 2008
Detroid based automobile leader General Motors Corp.(GM) reported for biggest loss in her history – 38.7$ billion. A largely part of GM’s lost is because previous quarter firm charged related to unused tax credits. When exclude this charge company have lost 23$ mill. or 0.04$ per share. GM also reported for decreasing revenue from 206$ bill. to 181$ bill or -13%.
Last year looks bad for one American industry giant such as GM. GM’s CEO Mr. Wagoner said that the company makes significant progress about reducing their costs in North America. For next year company decrease offers to U.S. hourly payment in hopes to diminish workers.
May be 2008 GM will outsource more stuff and products in Latin America and Asia or ….
loss, automobile,