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Author Topic: GM reports its largest profit in more than a decade  (Read 599 times)

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Offline scootrd

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GM reports its largest profit in more than a decade
« on: February 24, 2011, 03:33:07 PM »
If some had had their way, Gen­eral Motors would have been a faint mem­ory, caus­ing hun­dreds of thou­sand to loose their jobs. Since receiv­ing the bailout, GM has recov­ered, restruc­tured its prod­uct and the company’s goals. Between Jan­u­ary and Sep­tem­ber of 2010 GM saw prof­its of $4.2 billion. Jobs saved and yes Profits!!!!

http://www.nytimes.com/2011/02/25/business/25auto.html

http://money.msn.com/top-stocks/post.aspx?post=336ac1ed-78ff-4526-a025-25647b6a5831

Seems to me to be a positive move forward in economic growth. (I'm sure there are those on this site that will twist this good news story into a negative. So let the bashing begin ). I should go back and look at all the old posts of those that had so many negatives to say when first implemented and repost here.
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Offline gypsyman

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Re: GM reports its largest profit in more than a decade
« Reply #1 on: February 24, 2011, 03:39:10 PM »
Good for them. I'll still buy a Ford. gypsyman
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Offline scootrd

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Re: GM reports its largest profit in more than a decade
« Reply #2 on: February 24, 2011, 03:42:25 PM »
Quote from: gypsyman on February 24, 2011, 03:39:10 PM
Good for them. I'll still buy a Ford. gypsyman

Me as well , I've always been a Ford person. But this is great News for the American Auto industry and our hard working Auto Folks. But I;m sure there will be those who will still try and seek fault with it and try to discredit rather than just rejoice American Jobs were saved.
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"if your old flathead doesn't leak you are out of oil"
"I have strong feelings about gun control. If there is a gun around I want to be controlling it." - Clint Eastwood
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." - Benjaman Franklin
"It's better to be hated for who you are , then loved for who your not." - Van Zant

Offline Gary G

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Re: GM reports its largest profit in more than a decade
« Reply #3 on: February 24, 2011, 03:53:25 PM »
And so fascism works.........for a little while.
Last qtr. profits were down.
Stock is below IPO price.
Next year it will be a loss (high gas prices).
In the future can they hold on? I doubt it.

And I wonder how all that money would have spent if it hadn't gone to GM? How many businesses or jobs would have been created? We will never know.

It is like the animal kingdom, when the weak die and the strong survive, the herd gets stronger. That is why capitalism always outdoes any form of socialism. And why all previous socialist countries have died.
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Offline torpedoman

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Re: GM reports its largest profit in more than a decade
« Reply #4 on: February 24, 2011, 04:01:26 PM »
 And the treasury just changed the rules which lets G.M. out of paying 14 billion due in taxes. They are letting them declare losses that were wiped out in bankruptcy as if they actually had the losses so now they not only do not have to pay their debs but also get to write them off of their taxes.  LIFE IS GOOD WHEN THE GOVERNMENT IS YOUR MAJOR STOCKHOLDER.
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Offline eye shot

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Re: GM reports its largest profit in more than a decade
« Reply #5 on: February 24, 2011, 04:15:39 PM »
Not so hard to do when obama had the hurts- recalls and bad pr put on Toyota.
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Offline billy_56081

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Re: GM reports its largest profit in more than a decade
« Reply #6 on: February 24, 2011, 04:39:57 PM »
WOW a company is GIVEN BILLIONS and it makes a profit. I at this time own a G6. I NEVER EVER buy GM again. My company also went 100 percent Ford in its work vehicles.
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Offline oldandslow

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Re: GM reports its largest profit in more than a decade
« Reply #7 on: February 25, 2011, 04:28:49 AM »
Quote from: scootrd on February 24, 2011, 03:33:07 PM
If some had had their way, Gen­eral Motors would have been a faint mem­ory, caus­ing hun­dreds of thou­sand to loose their jobs. Since receiv­ing the bailout, GM has recov­ered, restruc­tured its prod­uct and the company’s goals. Between Jan­u­ary and Sep­tem­ber of 2010 GM saw prof­its of $4.2 billion. Jobs saved and yes Profits!!!!

http://www.nytimes.com/2011/02/25/business/25auto.html

http://money.msn.com/top-stocks/post.aspx?post=336ac1ed-78ff-4526-a025-25647b6a5831

Seems to me to be a positive move forward in economic growth. (I'm sure there are those on this site that will twist this good news story into a negative. So let the bashing begin ). I should go back and look at all the old posts of those that had so many negatives to say when first implemented and repost here.

You certainly called it right on the bashing.  ;D
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