AFSCME 3357-HOF'S BLOG

GM Posts $286 Million Quarterly Loss:
GM Posted a $286 Million quarterly loss in the second quarter, compared to making $1.4 Billion in profit in last year's second quarter. The second quarter was the first period to include results fromthe "Employee Discounts for Everyone" promotion. Auto sales revenues were down about half a percent compared to last year. Still, compared to the $1.1 Billion first quarter loss, the $286 Million loss doesn't seem too bad.

In separate news, Ford posted a modest profit, but its North American automotive operations posted a loss. Just like at GM, it's the financial services arm that keeps the black ink flowing.

G.M. Posts Third Straight Quarterly Loss - New York Times