39 Billion Dollar Interview

“It doesn’t have any impact at all. I would encourage people not to overreact in a negative way to it” says GM's CEO Rick Wagoner of GM's $39 billion loss, one of the biggest quarterly corporate deficits ever.

In WJR's interview with Wagoner, Rick touches on the reason for taking the write-down now, the good fortune in having spun off 51% of GMAC before the mortgage collapse, higher revenues per unit in the US, and Delphi's troubled reorganization. It's not all gloom and doom despite the eye opening number.

I wonder if Rick is available to drop by my house and discuss finances with the Mrs? If he can calmly discuss a $39 billion dollar loss, he should be able breeze through my "mis"balanced sheet.

To hear the full interview, click here.