GM has done it again, the world's second largest auto maker has amassed a staggering loss of $15.5 billion dollars for the 2nd quarter of 2008. In the same period a year earlier, GM recorded a net profit of $891 million. GM blames the losses to labor unrest and its over massive restructuring plan. The company has already lost its number one position to Toyota as the Japanese auto maker outsold GM by 277,532 vehicles for the first half of the year. Rising oil prices have resulted in lesser demand for fuel guzzling SUVs and overpowered sedans which has resulted in sharp cut in demand. Here are some numbers :- Loss in Three months - $15.5 billion One day - $172 million One hour - $7.2 million One minute - $120,000
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