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GM Restates 2005 Loss By 1 BILLION, MILLION, FAFILLION, SHABOLUBALU MILLION ILLION YILLION...YEN


Give or take. GM decided to up the ante and restate its losses for 2005. The new estimate is $2 billion greater than previously reported due to charges related to factory job losses, its finance arm GMAC and the bankruptcy of former subsidiary Delphi Corp. The announcement brings the total loss for 2005 up to $10.6 billion. The stock closed at $22.22 on Thursday and in after hours trading was down to $22. Look for the "full effect" of the development today (Friday). Perhaps GM felt that their $2 billion would disappear in the news of the day that the US Senate voted to allow the national debt to increase to nearly $9 trillion.