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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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From: ldo7911/6/2007 6:30:46 PM
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General Motors used to known as a "widows & orphans" stock.

GM taking $39 bln non-cash charge in third quarter
SAN FRANCISCO (MarketWatch) -- General Motors Corp. 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.
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