GM (GM) will take a $39 billion write-down for Q3 earnings.
According to The Wall Street Journal "the move is triggered as the company expects to lose money on an adjusted basis during the three-year period starting in 2005 and ending in 2007, meaning it has to make the adjustment in order to be in compliance with federal accounting rules."
The company’s stock is off 2.2% after hours.
Douglas A. McIntyre
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