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GM's 49% stake in floundering GMAC, the GM financial services arm, costs $1.45 billion.

05 May 2008 | International News :



GM's 49% stake in floundering GMAC, the GM financial services arm, costs $1.45 billion. Elsewhere, the two-month long American Axle strike cost GM about $800 million, while further support of bankrupt supplier Delphi's restructuring took $731 million from the corporate coffers.

The consolation was that the huge net loss was actually lower than what analysts expected. Also, GM's performance for car sales actually improved. In fact, despite the huge reported losses, GM's stocks rose after the announcement.





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