GM posts a loss for 1980 -- but a 4th-quarter profit

GEneral Motors Corporation reported a 1980 deficit of $763 million, the worst financial performance in the No. 1 automaker's history and its first annual loss in almost 60 years. GM said it eked out a tiny -- by its standards -- profit of indicated a turnabout in its fortunes.Auto industry analysts said it will be the only US automaker to show a profit for the recession-racked period.