GM posts first annual loss since 1992
Friday, January 27, 2006 General Motors Corporation (GM) has posted its first annual loss since 1992. GM reported losing US$4.8 billion in the fourth quarter of 2005 and a total loss of $8.6 billion for the entire year. GM admitted Thursday night that the loss could swell further as it pays pensions and healthcare costs to thousands of former workers. GM warned that the amount calculated for last year is preliminary and could rise before…