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GM posts another 1.2B loss for the quarter

Discussion in 'Members' Lounge' started by Briansol, Nov 16, 2009.

  1. Briansol

    Briansol Admins Admin VIP

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  2. 95b16coupe

    95b16coupe New Member

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

    Cashizslick !i!i!i!i!i!i!i!i!i!i!i!

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    ^ Because you are too big to fail.
     
  4. sufikation

    sufikation Active Member

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    A loss of 1.2 billion? How the fuck?
     
  5. phyregod

    phyregod !!YTINASNI

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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??
     
  6. TurboMirage

    TurboMirage YEEAAAHHH VIP

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    yeah those things are everywhere. its nearly a 1:1 ratio of camaros to civics here.
     
  7. K2e2vin

    K2e2vin Senior Member

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    Maybe they did break even but needed to give out bonuses. :ph34r:
     
  8. 99sidude

    99sidude Moderator Moderator VIP

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    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 I know that months ago, they rescinded all employee pay cuts.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:
     
  9. K2e2vin

    K2e2vin Senior Member

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    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.
     
  10. 99sidude

    99sidude Moderator Moderator VIP

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    you are correct. extra cash is always welcome though
     
  11. D16Civic

    D16Civic Matt

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    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.
     
  12. E_SolSi

    E_SolSi Member of the 20 nut club Moderator VIP

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    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:
     
  13. Drake

    Drake Well-Known Member VIP

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    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....
     
  14. Bob Vila

    Bob Vila ɐןıʌ qoq Admin VIP

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    in the meantime F stock goes up and up :)
     
  15. Cashizslick

    Cashizslick !i!i!i!i!i!i!i!i!i!i!i!

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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?
     
  16. Taco15

    Taco15 I wear stretchy pants VIP

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    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:
     
  17. totalburnout

    totalburnout Well-Known Member VIP

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    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.
     
  18. phyregod

    phyregod !!YTINASNI

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    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.
     
  19. Korax

    Korax New Member

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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.."
     
  20. 99sidude

    99sidude Moderator Moderator VIP

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    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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