GM Posts Whopping $39 billion 3rd Quarter Loss
DETROIT -- General Motors Corp. posted a $39 billion net loss in the third quarter, as an accounting shift involving deferred tax credits brought an abrupt end to string of three profitable quarters for the nation's largest automaker.
The net loss amounted to $68.85 per share, compared with a net loss of $147 million, or 26 cents per share, in the third quarter of last year.
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