General Motors posted a $39 billion loss in the third quarter of 2007. The loss is primarily attributed to a noncash charge to accumulated deferred tax credits. The company has been further hindered by the collapse of the U.S. mortgage market, which negatively effected GM's financing affiliate, GMAC. This marks the second largest quarter loss in U.S. history.
GM $39 Billion Loss Blogs and Commentaries
TheStreet: GM Skids to $39 Billion Loss (November 7, 2007)
BloggingStocks: Market plunges yet again on record GM loss (November 7, 2007)
MarketWatch: General Motors records $39 billion loss on tax charge (November 7, 2007)
LeftLaneNews: GM posts $39 billion loss (November 7, 2007)
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