GM posts huge $15.5 billion 2Q loss

General Motors Corp. says its losses widened to $15.5 billion in the second quarter as North American sales plummeted and the company faced expenses due to labor unrest and its massive restructuring plan. It's the third-largest quarterly loss in company history. The company says the loss includes $9.1 billion in one-time charges, including $3.3 billion for the buyouts of 19,000 U.S. hourly workers. [Editor's Note: Stick a fork in GM, it's almost done. This should warrant CEO Wagoner getting paid millions again this year. Given the magnitude of the loss, they may be forced to cut their NASCAR budget further.]