GM Burns $6 Billion

And amazingly, they beat estimates!

GM, which is either on the verge of bankruptcy, or a massive 100-1 dilution of its current shareholders, lost just $6 billion, or around $9 per share this past quarter, which is better than the $11.05 that analysts had previously been looking for.

No explanation is really needed of the horror show at this company. Sales were down 40%, so that pretty much says it all. On CNBC, the CFO called the quarter “challenging.”

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