The perennial basket case lost $40.13 per share last quarter. Not a good showing. Revenues down 24 percent (more than twice the drop at PCAR last Q). $28 of the per-share loss was a non-cash tax charge, but excluding changes in current assets and liabilities the company still burned more than $600 million in cash and equivalents. If this continues, Navistar might not be around at this time next year. Icahn might regret his investment. "She's taking on water, captain!"