GM's results may be hit by sub-prime mortgages

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GM's results may be hit by sub-prime mortgages

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2/17/07, 12:00 AM

Joseph Burkeson, CMI Joseph Burkeson, CMI is offline

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GM's results may be hit by sub-prime mortgages

GM's results may be hit by sub-prime mortgages
Analysts fret that GMAC unit ResCap may have loan problems

NEW YORK (MarketWatch) - General Motors Corp's delayed fourth-quarter results could take a substantial hit from souring sub-prime mortgages at Residential Capital that could cost the auto maker up to $950 million in the first half of this year, analysts said.

"By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest." -Confucius

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