Replies to post #346877 on Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Good Ol' Reliable- GM Screws Up Again
GM discloses more than $600M in charges for auto ops

SAN FRANCISCO (CBS.MW) -- General Motors(GM: news, chart, profile)on Tuesday said it will take a series of charges for its automotive manufacturing operations. In a filing with the U.S. Securities and Exchange Commission, GM said it will take a $609 million charge for "assets primarily related to certain product lines." On an after-tax basis, the charge will be $383 million. In that same filing, the company said it will take additional charges for its Baltimore and Linden, N.J. plant. In separate filings, GM also said it will take pre-tax charges of $52 million for its Baltimore plant and a $75 million charge for operations at its Linden, N.J. plant.