With the third quarter of 2013 wrapping up, General Motors has published its quarterly earnings, announcing a net income of $700 million, a significant drop from Q3 2012's $1.5 billion in net income. The drop is being blamed on a $900 million loss from "special items," $800 million of which was part of a 120-million share repurchase of preferred stock. GM also lost $500 million on tax expenses.
General Motors Earnings
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