Bowing to grim reality, General Motors Corp. followed Ford's lead and cut its US sales forecast Wednesday after a tough first quarter that saw a $3.3 billion loss. But unlike Ford, GM faces more unknowns that could complicate its North American turnaround and drag down strong results overseas, including a strike at supplier American Axle, the protracted bankruptcy case of its former parts division, Delphi Corp., and unresolved labor talks in Canada. GM's loss for the January-March period amounted to $5.74 per share, reflecting $2.9 billion in one-time charges. That compares with a profit of $62 million, or 11 cents per share, in the first quarter of 2007. Without the one-time charges, GM lost $350 million, or 62 cents per share, handily beating Wall Street's expectations. On that news, investors sent GM's shares up 9.4 percent, or $2, to close at $23.20.
