Recent Comments:
Gran Turismo 5 Update: one-year out, damage modeling being considered {Autoblog}
Mar 28th 2008 4:45PM What are you people on when saying the GT series is more realistic physics-wise than Forza?
It is NOT. The creator of GT has even admitted that Forza has more feature-wise (read car setups etc) than GT. http://games.kikizo.com/features/gt5_kazyamauchi_iv_oct07_p1.asp
PWNED: Kid tries to pass off CLS 55 AMG as his own, gets caught {Autoblog}
Mar 26th 2008 10:22AM You
C&D tests GT-R, runs 11.5-second quarter {Autoblog}
Mar 24th 2008 12:13PM @Mike... um no.
Car cornering speed > Bike cornering speed
A bike could be faster around the track, but its going to be due to its late braking ability and exit acceleration.
New York 2008: The Ute has landed! Live Reveal of the Pontiac G8 Sport Truck [w/VIDEO] {Autoblog}
Mar 19th 2008 1:32PM No wonder the american auto market is in the toilet. Look at this crap. What is the "pickup" part even for? Hauling around your extreme lack of style?
VIDEO: 240Z-based Ferrari 250 GTO replica {Autoblog}
Dec 26th 2007 10:50AM If you cant have the real thing why pretend?
As others have said, the 240z would have been cooler than a make-believe ferrari. Life is too short to have fake sh*t.
Get your sleeping bags ready: Nissan GT-R pre-orders begin Jan. 1st {Autoblog}
Nov 26th 2007 4:01PM There is no way this car will go for $125k. The people that pay those premiums are generally in the older demographic and the older demographic views this car as a drift-mobile. There is no way it will support a premium close to twice its MSRP.
FIA rejects McLaren appeal, confirms Raikkonen's title {Autoblog}
Nov 20th 2007 9:11PM In other recent news, Michael Schumacher will retire from F1 at the end of this season.....
Alonso to announce today, Ghosn throws wrench into the works {Autoblog}
Nov 20th 2007 2:46PM Kimi's contract is up in 2009.
GM loses $39 billion in third quarter, but autos are profitable {Autoblog}
Nov 7th 2007 2:45PM On a global basis, the auto segment was profitable ($176 million). North America was a loss but a smaller loss than last year (-$247 mil vs -$660 mil). International's profit offset the weakness in North America. To answer your tax question... If you have a loss in your business or have to take a loss on certain debts, you can create a tax asset. The asset basically is prepaid taxes. You can use this asset when you eventually return to profitablity and it comes time to pay uncle same. For instance, if you have a $1million deferred tax asset and owe $5million in taxes, you can use the $1million to offset this. It is possible that GM could eventually reverse the charge they made this quarter but probably very unlikely.
GM loses $39 billion in third quarter, but autos are profitable {Autoblog}
Nov 7th 2007 2:34PM It has everything to do with whether or not GM expects profits in the future! A deferred tax asset's value is based upon the estimation of the company's ability to use it in future years. So....... If the company isnt going to be able to be profitable and thus use the tax shielding that the deferred tax asset would provide, its value gets written down. They cant keep the tax credits indefinitely, thats why the value is written down, it is because of the belief that the loss carryfowards will expire without being used and therefore have no value.
The net accounting is also not the same as you say, a valuation allowance can be reversed like I originally said. If you write something off, you cannot reverse that.
