GM Accelerates On Job Cuts
"GM loses $30.9b in '08; sales fall 17%
General Motors Corp. reported a $30.9 billion annual loss, the second-biggest in its 100-year history, as chief executive Rick Wagoner asked the Treasury for more cash to survive through 2009. GM's cumulative deficit ballooned to $82 billion....
"The size of the loss matters not only because it impacts what it will cost to restructure the company, but also the kind of bill for which the taxpayer is on the hook," said John Casesa, a managing partner at consultant Casesa Shapiro Group LLC in New York....
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