LOSSES - USA - GM Posts Another Huge Quarterly Loss
USA -FORBES/Associated Press -07.20.2005: -- General Motors Corp. reported another huge quarterly loss Wednesday, intensifying pressure on CEO Rick Wagoner to speed up the overhaul of North American operations that produced a $1.2 billion torrent of red ink in the second quarter... A surge of U.S. vehicle sales in June, when GM extended its employee discount plan to all customers, helped the company reduce bloated inventories, but it added little to the bottom line... That highlights the challenge Wagoner faces as the world's largest automaker tries to come up with new hit models while cutting costs in a way that doesn't trigger open warfare with unions...
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