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Former General Motors posts $2.8 million August operating loss
By Caroline Salls
Pittsburgh, Oct. 1 - Motors Liquidation Co., formerly General Motors Corp., reported a $2.8 million operating loss for August on $1.37 million in rental income, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.
The figures showed improvement over the $6.61 million operating loss posted for July on $1.07 million in rental income.
The net loss for August was $31.2 million, widening from a $15.74 million July net loss.
Motors Liquidation had $964.17 million in cash and cash equivalents at Aug. 31, down from $976.57 million at the end of July.
GM, a Detroit-based automaker, filed for bankruptcy on June 1, 2009. The new General Motors Corp. emerged from Chapter 11 on July 10, 2009, and Motors Liquidation's Chapter 11 case number is 09-50026.
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