wwwGeneral Motors (NYSE:GM) will take a $39 billion write-down in Q3 related to establishing a valuation allowance against its deferred tax assets in the U.S., Canada and Germany.
The company's shares are off 2.5% after hours on the news.
Douglas A. McIntyre is an editor at 247wallst.com.
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Reader Comments (Page 1 of 1)
11-07-2007 @ 9:11AM
ABealle said...
Can someone explain in laymans terms what is going on here. What kind of shell game is this. What do they mean non cash charge....what asset gets reduced? Was all this reported as profits in prior years. I am lost. ABealle