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GM delays 2009 financial report


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GM delays 2009 financial report

Robert Snell / The Detroit News

General Motors Co. will not file its year-end financial report for 2009 on Wednesday because the automaker is still determining the fair value of its assets and liabilities acquired before emerging from bankruptcy court last summer.

GM needs additional time to finalize that process and conform with generally accepted accounting principles related to the company's assets and liabilities, the automaker said in a regulatory filing today.

From The Detroit News: http://www.detnews.com/article/20100329/AUTO01/3290388/1148/GM-delays-2009-financial-report#ixzz0jZs7W78D

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