see "General Motors Posts Big Loss, Shares Dip" (AP via Yahoo, 1/26/06)
GM lost $4.8 billion in the last quarter...that's $53 million per day!
It's amazing that the stock is still trading where it is. I suppose the market hopes that they can restructure, along the lines of what Ford just announced. But I think their years of buddying up to unions makes their long-term prospects dismal.
The CFO of GM still claims they will not file for bankruptcy, and I think they will be able to stave it off for a good long time, at least a year. But I'd be surprised if they don't have to reorganize eventually.
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