GM posts loss of $1.2 b


GM said it had $42.6 billion on hand at the end of September and that it would begin repaying its loans to the United States and Canadian governments in December, more than five years ahead of schedule.

Excluding taxes and one-time items like the costs related to restructuring its dealership network, GM said its operations lost $261 million from July 10 and September 30. The loss in North America was $651 million. For the entire third quarter, including the final 10 days of GM’s bankruptcy, the company said its revenue was $28 billion, up 21 percent from the second quarter.

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