Wednesday, November 09, 2005

Carried a “one” to the wrong column

From the NY Times: “General Motors to restate earnings from 2001” - it won't be "up":
General Motors Corp. said Wednesday it plans to restate its earnings from 2001 because an accounting error led the company to overstate its earnings by up to 35 percent. In an unrelated action, Fitch Ratings lowered GM's debt deeper into "junk" status Wednesday and the automaker's shares tumbled to a 13-year low.
Unrelated action”??? You must be joking.

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