Last year General Motors reported a staggering net loss of $38.7 billion, and followed it up with a $3.3 billion loss in the first quarter of this year and a $15.5 billion loss in the second. Despite the dire situation Bob Lutz and other senior executives are hopeful that the company can return to profitability by 2010.
General Motors say that much of the previous losses are due to special one-off transactions, and that the company is now undergoing massive restructuring. …click here to read more
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