|Crash and Burn |
But more cash on hand
1. Skid RowThe milestones are just flying by at General Motors ( GM).
On Thursday, the giant automaker posted its sixth straight quarterly loss. The Detroit company lost $323 million for its first quarter, including a $946 million deficit in its staggering North American operations.
Yet the quarter was
"The first quarter represented an important milestone in GM and GM North America's turnaround," said CEO Rick Wagoner. "Not only did we see significant improvement in the financial results of all our automotive units, we also announced numerous additional actions to improve our North American competitiveness and liquidity."
Of course, milestone achievements are nothing new at GM. Just two weeks ago the company agreed to