Add your comments
Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.
When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br> tags.
Please note that gratuitous links to your site are viewed as spam and may result in removed comments.
BREAKING: GM and Chrysler talking about merger
Spy Shots: Nissan 370Z again, with interior shots
2010 Mazda3 unveiled ahead of LA Auto Show
Spy Shots: Nissan 370Z caught undisguised
GM on Corvette ZR1 cancellation rumor: "Not true."
Knight Rider: The Liveblog -- Season 1, Episode 3
In the Autoblog Garage: 2009 Mazda RX-8 R3, return of the "hummer"
In the Autoblog Garage: 2008 Chevy Corvette Z06
Autoline on Autoblog with John McElroy
Paris 2008: Le Day 1 Wrapup
Reader Comments for
Subscribe to this thread(Page 1 of 1)
jcuoit @ Nov 8th 2007 2:45PM
so they post a huge loss so they can carry it forward as an asset towards keeping taxes down over the coming quarters?
or was the original plan to report a less drastic loss and then carry it over coming quarters to keep profits-taxes down, but due to the Financial Accounting Standards Board's new rules they have to report it all right now?
can they now carry forward this loss onto later quarters to keep their taxes low?
JC
Merritt @ Nov 8th 2007 3:04PM
The losses are carried forward to count against profits, when they are once again realized. However GM has not yet shown a net profit to offset their loss totals. In the past these numbers have not shown on the balance sheet. However recent changes in accounting standards have stipulated that the numbers need to be reported if they cannot be used as an asset within a particular time span.