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General Motors said today that it lost $3.1 billion overall during the second quarter. It made money from operations, but took a raft of accounting charges in the quarter related to employee buyouts and the sale of its financing arm, resulting in the big net loss.

G.M. also reported an $85 million loss on its North American operations, the focus of a turnaround effort by the company’s chief executive, Rick Wagoner. The loss was offset by profits overseas.

The earnings report comes at a time when G.M. is in negotiations over a possible alliance with Renault of France and Nissan of Japan, both headed by Carlos Ghosn. The alliance talks were spurred by G.M.’s biggest shareholder, Kirk Kerkorian, whose associates have expressed frustration with G.M.’s pace of progress in righting itself.

http://www.nytimes.com/2006/07/26/business/26cnd-auto.html?hp&ex=1153972800&en=555ee314b86cc715&ei=5094&partner=homepage
 
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