The European division reported a $345 million loss for the quarter on $8.2 billion in revenues.
The company's European division, which suffered from a recall, fell 18 percent.
Sales in the company's European division are expected to fall 6 percent to 7 percent.
The European divisions of American companies are getting their share of the action.
The European automotive division has been on the auction block since March.
The almost universal European division into a 'good' west end and a 'poor' east end of large cities developed in this period.
"You don't transfer $7 billion through the spanking-new Eastern European division without somebody knowing."
As head of Goldman's European division, he is trying to increase the number of women in senior positions at the bank.
Spain was promoted to the European Division I for 2000.
They finished the season in second place of the European Division with a record of three wins and seven losses.
