GM taking $39 bln non-cash charge in third quarter

[otcstockfund]

http://www.marketwatch.com/News/Story/Story.aspx?guid={17B9A270-B354-405C-A9EE-B05D5F909BC3}

SAN FRANCISCO (MarketWatch) --
General Motors Corporation
said late Tuesday it will record a third-quarter non-cash charge of $39 billion because of accounting standards related to its deferred tax assets in the U.S., Canada and Germany. The company said the money is needed to establish a valuation allowance in part to compansate for unanticipated losses at GMAC Financial Services. GM is scheduled to report its third-quarter results on Wednesday.

 

[Bowgett]

Market cap $20B, write off $40B ...

life is good

 

[Daal]

can someone explain how exactly this will affect their balance sheet and income statement

 

[THE-BEAKER]

fantastic news.

probably means stocks will trade higher.

didnt you know.

credit crunch, huge writedowns, big losses.

get long get long its all going up

 

[stock_trad3r]

This is time 2 buy

No one cares about GM ..only one stock in the dow jones. Really it's not a big deal.

GM will rbeound to 40 in a few months