accounting


GM loses $15.5B in Q2

General Motors reported its second quarter earnings this morning, and the news was predictably grim. The General lost $15.5B in the quarter, as the Detroit Automaker continues to struggle with brutal market conditions and the costs associated with strikes and downsizing. Among the losses is a $4B hit from automotive operations, as stymied truck sales resulted in an 18% drop in revenue to $38B. GM's credit arm lost another $2.5B from high loan default rates and huge losses from truck and SUV lease residuals. Another $9.1B came from one-time ... Read more →

We can't count: GM admits internal accounting is off John Neff

If you pay attention to the Business section of the newspaper, then you're no doubt aware of how many public companies have been restating their earnings as of late. You can thank the Sarbanes-Oxley ...

Navistar to-do list: Restate company financials, hire new auditor Eric Bryant

Earlier this year, Navistar delayed the filing of its annual report and blamed it on accounting errors by its auditor. Now, the truckmaker has stated that it will fire Deloitte and Touche and will ...

Flames burning brighter under feet of GM's Rick Wagoner Chris Paukert

The beating of the drums calling for the head of [General Motors'] Rick Wagoner continues to crescendo. The embattled chief executive has been stung by a growing chorus of critics in light of the ...

GM loses $15.5B in Q2 1 year ago on Autoblog

General Motors reported its second quarter earnings this morning, and the news was predictably grim. The General lost $15.5B in the quarter, as the Detroit Automaker continues to struggle with brutal market conditions and the costs associated with strikes and downsizing. Among the losses is a $4B ...

We can't count: GM admits internal accounting is off 2 years ago on Autoblog

If you pay attention to the Business section of the newspaper, then you're no doubt aware of how many public companies have been restating their earnings as of late. You can thank the Sarbanes-Oxley Act of 2002 for that, which was passed in the wake of accounting scandals at such companies as Enron, ...

Navistar to-do list: Restate company financials, hire new auditor 3 years ago on Autoblog

Earlier this year, Navistar delayed the filing of its annual report and blamed it on accounting errors by its auditor. Now, the truckmaker has stated that it will fire Deloitte and Touche and will retain the services of KPMG for its auditing needs. The relationship with Deloitte went back ...

Flames burning brighter under feet of GM's Rick Wagoner 3 years ago on Autoblog

The beating of the drums calling for the head of [General Motors'] Rick Wagoner continues to crescendo. The embattled chief executive has been stung by a growing chorus of critics in light of the company's recent financial restatement in which it disclosed that the company had lost a further 2 ...






Autoblog Podcast #158: 'Twas a couple nights before Christmas...

Chris, Editor Paukert, and Dan send the Podcast off for the Christmas holiday in proper fashion

 
 

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