GM Says It Needs Cash, and Fast (Update2)
Updated from 1:04 p.m. EST
General Motors (GM) posted a multibillion-dollar loss for the third quarter and warned Friday that its cash position is going to become more precarious unless the economy improves or it manages to get some kind of assistance.
The Detroit-based automaker reported a loss of $2.5 billion, or $4.45 a share, for the quarter, including items. In the same period a year earlier, GM had a loss from continuing operations of $42.5 billion, which counted a noncash charge of $38.3 billion.
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