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The massive second-quarter loss, which compares with an $891m net income in Q2 2007, includes $9.1 billion in special items, such as $3.3 billion relating to the GM’s North American hourly special attrition program, $2.8 billion adjustment to the
GM recorded $9.1 billion of special items, predominantly non-cash in nature for the current quarter or near-term periods, which include:
$3.3 billion relating to the 2008 GMNA hourly special attrition program
$2.8 billion adjustment to the
$1.1 billion GMNA restructuring and capacity related costs
$1.3 billion impairment of GM’s equity interest in GMAC
$340 million Canadian Auto Workers contract-related accounting charges
$197 million related to settlement of the strike at American Axle
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