GM posts another 1.2B loss for the quarter

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Ok, I live in a small town, and every other fucking house has a new camaro in the garage. What the fuck did they do with all that camaro money??
 
Maybe they did break even but needed to give out bonuses. :ph34r:
 
It's pretty rediculous how that company operates. I know that months ago, they rescinded all employee pay cuts. Honda has yet to do that, and we still make money:mad:
 
They have good reason; they overpay their employees. I'm pretty sure Honda pays what's fair, but also takes care of their employees so they never have issues with unions, etc.
 
K2e2vin said:
They have good reason; they overpay their employees. I'm pretty sure Honda pays what's fair, but also takes care of their employees so they never have issues with unions, etc.
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you are correct. extra cash is always welcome though
 
what I find laughable is they say they're going to start paying back the gov't loans while still losing a billion a quarter. As it turns out, they have loads of gov't cash sitting in an escrow account so they can pay back gov't loans. Once all the loans are paid back, then it's time for the IPO, and the gov't can start turning a profit on their 61% ownership.

Smart people came up with this plan.
 
the funny thing to me about this is that GM is claiming it as a success... because they lost money at a lower rate than in previous quarters :mellow:


and its outstanding that they are going to start paying back on $6.7 BILLION in federal bailout bucks :rolleyes:
but what about the other $33 BILLION fucking dollars they got?!?!?! i suppose were just gunna kiss the rest of it goodbye and chalk it up as a fucking gift??? :mad:
 
So the company that didn't take money posted a rather large profit and the one owned by the Government lost money? Well at a slower rate. Wow, what a surprise....
 
E_SolSi said:
the funny thing to me about this is that GM is claiming it as a success... because they lost money at a lower rate than in previous quarters :mellow:
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Well they are run by the Obama administration. It makes sense for them to use similar talking points.

How many cars has gm "Created or Saved" since re-organizing?
 
this is pitiful. Even my wife see's how Gm blows compared to other manufacturers....

since her civic replace that pos cavalier she's been a Honda fan all the way. :) No Gm vehicles in my family..except for the old s-10 :lol:
 
This was GM's first financial reporting since bankruptcy.

You're not comparing apples to apples. There's tons of one time costs that GM will incur over the next few years, attempting to straighten out their operations.

They plan to begin repayment of tarp funds Q1 of 2010. This means the company has enough cash on hand to start covering portions of their initial funding.

Given the circumstances and GM's gain of ~4% market share in China and a new plan for Opel, the outcome of this turnaround is fairly phenomenal.

You have to put everything in prospective in a situation such as this one. Look at Goldman Sachs taking TARP funds and then posting the largest quarterly profits ever.

Once economic conditions improve, organic growth will improve and begin a turn around. Any company operating in these conditions will have bleak financial reports.
 
I wouldn't mind another Opel GT..

A little tiny corvette with a 304hp camaro v6 engine... could be a real winner.

Well, it would be cool. They would actually sell 4 of them and somehow lose 42 billion dollars in the process.
 
E_SolSi said:
the funny thing to me about this is that GM is claiming it as a success... because they lost money at a lower rate than in previous quarters :mellow:


and its outstanding that they are going to start paying back on $6.7 BILLION in federal bailout bucks :rolleyes:
but what about the other $33 BILLION fucking dollars they got?!?!?! i suppose were just gunna kiss the rest of it goodbye and chalk it up as a fucking gift??? :mad:
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Your first statement sounds like the health care plan. "Well I know we said we were going to lower costs for everyone. What we really meant was that the costs are still going to go up... just marginally slower.."
 
It's like saying "well I gained 15 pounds in September, and last month I only gained 8 pounds. My diet is going great!!!"
 
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