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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: valueminded who wrote (71108)11/11/2007 3:08:14 PM
From: mishedlo  Read Replies (2) | Respond to of 116555
 
Implications of GM's non-cash writeoff
globaleconomicanalysis.blogspot.com
By writing off $39 billion in deferred tax assets, GM is effectively stating that its earnings prospects are so dim that it may never be able apply those tax credits against future taxable income. Even ignoring the one-time items, GM still lost $2.80 per share. When do shareholders start to realize that "one-time" items are a way of life at GM?
Mish


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