General Motors loses $3.4 Billion in 4th Quarter of 2009

General Motors Loses $3.4 Billion in Q4 2009

General Motors posted a $3.4 Billion loss in the 4th Quarter of 2009, however the company's CFO believes it is still possible for GM to post a profit in 2010.

Approximately $2.5 Billion of the quarter's loss was due to a one time payment of $2.6 Billion settlement payment to the UAW's retiree medical plan.  Without that payment, the loss would have only been $900 million.

The loss was a big improvement compared to the $9.8 Billion loss in the 4th quarter of 2008.  The loss was narrowed to due a combination of a 15% increase in vehicle sales and 10% cut in the number of worldwide employees.

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