GM POSTS LARGEST-EVER $38.7B LOSS, OFFERS BUYOUTS TO 74,000 HOURLY WORKERS

[mdoyle]

GM didn't actually lose that money; the tax code provides enough fodder for any first year grad to create numerous perfectly legal write-offs in avoidance of actually paying any taxes.

GM chose to do it now, likely because the code is going to change with new leadership, so in the future they wouldn't be able to amortize their losses as long to shield profits.

Carry on adventurer......