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GM reports $1.2B loss, says it shows progress - Yahoo! Finance

after all that restructuring, cash for clunkers, etc etc, you STILL can't even break even? ok, so you can't break even... a couple mill is acceptible. 1.2 billion?!?!

epic fail.

95b16coupe

how do you have operating expenses higher than sales when you AREN'T FUCKING MAKING ANYTHING????

Cashizslick

^ Because you are too big to fail.

sufikation

A loss of 1.2 billion? How the fuck?

phyregod

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??

TurboMirage

yeah those things are everywhere. its nearly a 1:1 ratio of camaros to civics here.

K2e2vin

Maybe they did break even but needed to give out bonuses.

99sidude

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 I know that months ago, they rescinded all employee pay cuts.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

K2e2vin

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.

99sidude

you are correct. extra cash is always welcome though

D16Civic

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.

E_SolSi

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


and its outstanding that they are going to start paying back on $6.7 BILLION in federal bailout bucks
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???

Drake

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....

Bob Vila

in the meantime F stock goes up and up

Cashizslick

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?

Taco15

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

totalburnout

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.

__________________
"Good talk... I'll see you out there."

phyregod

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.

Korax

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.."

99sidude

It's like saying "well I gained 15 pounds in September, and last month I only gained 8 pounds. My diet is going great!!!"

D16Civic

This is the whole theory of Obamanomics.

Yeah, yeah, we know the economy isn't getting better, but at least it's getting worse slower.

Sadly, many people are satisfied with that explanation.

E_SolSi

far be it from me to stick up for that Marxist jackass... but its not "Obamanomics"... its "Governomics"... they ALL do it... and its been going on LONG before he came on the scene


one of my favorite examples of this is when:
"Party A" wants to INCREASE funding for "Project X" by $12-BILLION
"Party B" wants to INCREASE funding for "Project X" by $6-BILLION
so "Party A" claims that "Party B" wants to CUT funding for "Project X" by $6-BILLION???

Drake

Spot on old chap. This is how it has been done for many years. On both sides of the fence.

Cashizslick

Now if only party A and party B weren't conspiring against us while acting as if they hate eachother...

Drake

We the people are just as much to blame however. Look at it this way. The way the system works you have to give to get right? Lets say your Senator runs with a promise of no more pork and less spending right. Well your Senator gets elected. Now a year or so into their term Boing shows up and says hey we want to build a plant in your district. And everyone is excited about a couple thousand jobs being created in there area. Now the issue is the plant they want built contributes to a project that is ten years behind and billions of dollars over budget. Now your senator votes against this project Boing is working on because he told you that there will be no more pork and less spending. What happens next? He gets his dick chopped off because Boing is not going to build that fancy new plant there. On the other hand, if he votes for the program he has broken a promise and runs the risk of not getting re elected anyway.

so what in the hell do you do? They are screwed either way. If more people looked threw their eyes and told that senator, You did the right thing by voting against that project. You told us you where not going to contribute to waste and we are glad you stuck to your word. Then 'honest' these folks wouldn't have to work so hard at playing the game.

I truly believe that there are good people that start off with the best intentions but the game sucks their soul out. And we attribute to it jas as much as anyone else.

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Quote:

Originally Posted by totalburnout I could fist you.