GM Loses $9.6B in Q4, Guzzles $6.2B in Cash

Misses estimates, stock tanks
By Kevin Spak,  Newser Staff
Posted Feb 26, 2009 7:08 AM CST
In this Dec. 12, 2008 file photo, the General Motors logo is seen outside the GM headquarters in downtown Detroit.   (AP Photo/Carlos Osorio, file)
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(Newser) – General Motors burned through $6.2 billion in cash on its way to losing $9.6 billion in the fourth quarter, the company announced today, dragging its liquidity down to $14 billion. Analysts were expecting a loss, but not one this ghastly—the company’s stock is down nearly 24% in pre-market trading, the Wall Street Journal reports. The figures include $4 billion in federal loan money.