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NINETY EIGHT REGENCY

GM's finances: Good ... or bad?

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GM's finances: Good ... or bad?

Automotive News -- April 12, 2010 - 12:01 am ET

What are we to make of General Motors' financial results for the post-bankruptcy period of 2009? Depends who's doing the analyzing.

The Detroit Free Press headlined GM's $4.3 billion loss: "Things looking up for GM." But an analysis in The New York Times begged to differ, proclaiming: "Obstacles Remain At the New G.M."

GM CFO Chris Liddell might agree with both approaches. He said the company was almost profitable in the fourth quarter, excluding "items which you might deem to be special."

In the second half of 2009, GM posted a net increase of $1 billion in operating cash. And Liddell said that what he has seen so far this year bolsters expectations that a profit is possible in 2010.

But he stopped short of saying he's confident that's going to happen. The losses announced last week give "some sense of the financial hill we intend to climb," he said. "I would rather underpromise and, hopefully, overdeliver."

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100412/RETAIL02/304129962/-1#ixzz0ktVB5ndM

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In the second half of 2009, GM posted a net increase of $1 billion in operating cash.

This is more important news for the reporting period than accountng profit.

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