An article in today's New York Times reports that GM is now claiming that they are having major accounting issues. If I have said it once, then I have said it a million times: math is math. I know that I am being cynical here, but since when does 2+2 not equal 4. Accounting deals with numbers, and the rules of math haven't changed since MC Hammer blew $33 Million in one year on parachute pants and Pepsi.

As John Mellencamp so appropriately tells us in the Chevy commercial, "this is our country." This is our country. We make up math. GM is America. That is their marketing goal, and they have now accomplished it by having terrible accounting practices. GM blames the mistakes on a poorly trained accounting staff. I would have to agree with them. The report also sites 41 other issues that good "hinder the performance" of GM. I can't even count to 41. That is a lot of hindrances.

Remember, when you are dealing with your finances, just do math. Normal math, not GM math.


***Important Note*** This blog entry is not meant to evaluate the investment-worth of General Motors. We are not suggesting anything about their financial future. This is not investment advice

G.M. Says It Has Found Serious Flaws in Accounting (New York Times)