General Motors has halted trading in advance of the big third-quarter announcement we've been waiting for. This isn't catastrophic news, but it underlines the fact that the announcement (which was supposed to made a few minutes ago) is going to be bad. Really bad. It's raining in Detroit right now and CNBC's Phil LeBeau is sitting on the phone waiting for his producer to give him the numbers so that he can report them to the world. It's a rather fitting scene. Expect a quick update as soon as we hear the news.

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