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May 24, 2007
General Motors said says U.S. securities regulators have requested documents relating to its accounting for financial hedges and adds that a parallel inquiry at its former finance arm could force it to restate past results again, Reuters reports.
GM also said in a filing with the U.S. Securities and Exchange Commission that it had set its estimated exposure to bankrupt auto parts maker Delphi Corp at $7 billion and could take a $1 billion charge this quarter related to the restructuring of its former subsidiary, Reuters says.
The SEC's request for information marked the latest accounting setback for GM, which pledged to tighten its financial controls after twice restating results and delaying its fourth-quarter report.
Posted by
at 11:32 AM to Companies
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Besides knowing how to drive a car, (maybe or maybe not) your comments are usually negative. Do you only search out negative items? You and your co-reporters only report on negative articles never upbeat or interesting, probably why more Rhode Islanders use your paper to wrap fish than read it. What you blog on is on every radio or TV in America, you're so creative it's amazing. The most depressing articles; just what American's need. "Oil rises $71.00 on supply worries" "Calif. officials push strict fuel rule" "BP shuts 100,00 barrels of Alaska oil" "Drivers cut back" "Worldwide carbon dioxide soars" "job cuts won't fix Chrysler" "oil prices on the march" "Gas prices getting up to new record" "gas pump price rise, future mixed" "GM gets SEC request on bankrupt Delphi" Can you be exciting, different, or even entertaining all you report is the same garbage everyone else feeds us. Your a clone reporter with absolute doom and gloom to keep publishing. Newspapers nationally are failing, their wondering why, it's who they hire! Let's give Americans something else to worry about, they'll need us. WRONG, there is enough going on in our lives without your negativity. Mortgages, insurances, medical, property tax, sales tax, tax on our phones, lunches, heating oil, utilities, college tuitions, high gas prices ( remove gas tax how much a gallom will we be paying?) Tolls, stamps, vehicle registrations, inspection stickers, tires batteries, maintainance on our vehicles.Can you add to it?
Peter C.T. Elsworth reponds:
Fred, I guess I could add death, but that would probably make you even more cross with me! I'm afraid you are only too right about too much bad news, but news by definition very often is bad in the sense that it interrupts our daily routines.
If you drive to your work and arrive on time without incident, would you tell your workmates about it? Probably not. But if you drive to work and break down and while you're standing by the side of the road, Gov. Carcieri stops to ask if you needed any help, I think you might tell your workmates about it. It would be news, right, even though part of it was negative.
Cheers
Posted by: Fred on May 26, 2007 10:47 AM
Please be civil. Vicious comments, personal attacks and profanity won't be published.