GM sales up 40 percent

[Chris]

DETROIT — General Motors said Monday it earned $865 million in the first quarter, its first profit since 2007, after last year’s government-sponsored bankruptcy allowed the carmaker to wipe away many of its longstanding burdens.

G.M. said revenue was up 40 percent, to $31.5 billion, and it had positive cash flow of $1 billion.

The results show that G.M. is on track to become a public company again as soon as the fourth quarter, allowing the government to recover more of the billions of dollars it spent preventing G.M.’s collapse.

G.M. Earns $865 Million as Quarter Quarterly Sales Rise 40% - NYTimes.com

 

[WillowTree]

you can't blame me. it hasn't snowed in hell yet.

 

[Truthmatters]

Ahh the buy foreign faction huh Willow?

 

[WillowTree]

Ahh the buy foreign faction huh Willow?

why yes I will. Until obie wan and gm pay back all the money they stole from their bondholders, stockholders, and pension plans.. I will definitely by an American Made Toyota..

 

[Vast LWC]

why yes I will. Until obie wan and gm pay back all the money they stole from their bondholders, stockholders, and pension plans.. I will definitely by an American Made Toyota..

Umm, you do see the problem in that line of thinking, right?

Just saying.

 

[Wry Catcher]

DETROIT — General Motors said Monday it earned $865 million in the first quarter, its first profit since 2007, after last year’s government-sponsored bankruptcy allowed the carmaker to wipe away many of its longstanding burdens.

G.M. said revenue was up 40 percent, to $31.5 billion, and it had positive cash flow of $1 billion.

The results show that G.M. is on track to become a public company again as soon as the fourth quarter, allowing the government to recover more of the billions of dollars it spent preventing G.M.’s collapse.

G.M. Earns $865 Million as Quarter Quarterly Sales Rise 40% - NYTimes.com

Good news for most Americans, though the Henny Penny Dancers (WT and the Fringers) need to find a new melody to go with their lyrics ("Oh no, the sky is fall....ing").

 

[WillowTree]

why yes I will. Until obie wan and gm pay back all the money they stole from their bondholders, stockholders, and pension plans.. I will definitely by an American Made Toyota..

Umm, you do see the problem in that line of thinking, right?

Just saying.

no sir. I do not.

 

[Vast LWC]

DETROIT — General Motors said Monday it earned $865 million in the first quarter, its first profit since 2007, after last year’s government-sponsored bankruptcy allowed the carmaker to wipe away many of its longstanding burdens.

G.M. said revenue was up 40 percent, to $31.5 billion, and it had positive cash flow of $1 billion.

The results show that G.M. is on track to become a public company again as soon as the fourth quarter, allowing the government to recover more of the billions of dollars it spent preventing G.M.’s collapse.

G.M. Earns $865 Million as Quarter Quarterly Sales Rise 40% - NYTimes.com

This is very good news. Thanks for the heads up.

And, to all those people who said the rise in car sales was only due to the "cash for clunkers" programs I say:

 

[xsited1]

GM can go to hell for all I care. I'll never buy a car from them. Two quotes from the link in the OP:

The Treasury Department still owns 61 percent of G.M.

Meanwhile, the Ford Motor Company, which managed to avoid bankruptcy, recently reported a first-quarter profit of $2.1 billion.

It would have been best to let GM die.

 

[Truthmatters]

How much do you have to hate your own country to wish it ill because you lost an election?

 

[Vast LWC]

why yes I will. Until obie wan and gm pay back all the money they stole from their bondholders, stockholders, and pension plans.. I will definitely by an American Made Toyota..

Umm, you do see the problem in that line of thinking, right?

Just saying.

no sir. I do not.

Well:

1. The Bondholders and Stockholders owed the American taxpayer billions and billions of dollars, thus making their stock essentially worthless.

2. The pension plans were owed to union workers who now own a share of the company in return for their lost pensions. And they're not complaining about that at all as far as I know.

and finally:

3. How will GM pay dividends on the stock the American Taxpayer owns at the moment, if people refuse to buy GM on some messed up principle? Do you want the deficit to get worse or what?
Indeed, if the value of the stock continues to rise, it will become a much better deal when the government sells it's shares to private investors, making us even more money.

 

[WillowTree]

How much do you have to hate your own country to wish it ill because you lost an election?

why do you champion "government" theft?

 

[DavidS]

why yes I will. Until obie wan and gm pay back all the money they stole from their bondholders, stockholders, and pension plans.. I will definitely by an American Made Toyota..

Umm, you do see the problem in that line of thinking, right?

Just saying.

Actually, there is no problem in that line of thinking. The car parts are manufactured and assembled here in the US. The South is quite gainfully employed by foreign car companies looking for inexpensive labor to assemble its vehicles. Once the vehicles are assembled, they're shipped to US Auto Dealers. The only thing that's made in Japan are the executives and the profit goes back to Japan instead of the US. Foreign auto companies pay almost as much as US ones do and employ roughly about the same amount of people in the US. All in all, it's a pretty good deal.

 

[Truthmatters]

the money goes to Japan

 

[WillowTree]

Umm, you do see the problem in that line of thinking, right?

Just saying.

no sir. I do not.

Well:

1. The Bondholders and Stockholders owed the American taxpayer billions and billions of dollars, thus making their stock essentially worthless.

2. The pension plans were owed to union workers who now own a share of the company in return for their lost pensions. And they're not complaining about that at all as far as I know.

and finally:

3. How will GM pay dividends on the stock the American Taxpayer owns at the moment, if people refuse to buy GM on some messed up principle? Do you want the deficit to get worse or what?

I am not buying a GM. GM was in massive debt cause they made a shitty products and over compensated the unions.. I didn't vote to bail them out, but I did anyway and the US taxpayer will never see a dime of their money.

 

[Truthmatters]

How much do you have to hate your own country to wish it ill because you lost an election?

why do you champion "government" theft?

Prove theft happened you idiot

 

[WillowTree]

why yes I will. Until obie wan and gm pay back all the money they stole from their bondholders, stockholders, and pension plans.. I will definitely by an American Made Toyota..

Umm, you do see the problem in that line of thinking, right?

Just saying.

Actually, there is no problem in that line of thinking. The car parts are manufactured and assembled here in the US. The South is quite gainfully employed by foreign car companies looking for inexpensive labor to assemble its vehicles. Once the vehicles are assembled, they're shipped to US Auto Dealers. The only thing that's made in Japan are the executives and the profit goes back to Japan instead of the US. Foreign auto companies pay almost as much as US ones do and employ roughly about the same amount of people in the US. All in all, it's a pretty good deal.

but the best thing is the product you buy lasts and lasts and lasts.. when you pay good money for a Toyota you know you have a good automobile.

 

[WillowTree]

How much do you have to hate your own country to wish it ill because you lost an election?

why do you champion "government" theft?

Prove theft happened you idiot

do your research.

 

[saveliberty]

GM has paid back $5.8b. already. I fail to see how that is not a "dime" repaid.

The GM 3800 engine is one of the best engines ever put into a passenger car.

GM DID die, that is basically what bankruptcy is.

Failing to support them at this point is hurting your local economy. Most dealers are independently owned and contribute huge sums to local schools and other organizations.

Many of us within the local dealership network are just as mad as you about how we got here and what the government did. All we can do is work hard going forward. Everyday I think about my responsibility to make sure this gets paid back ASAP.

 

[WillowTree]

GM has paid back $5.8b. already. I fail to see how that is not a "dime" repaid.

The GM 3800 engine is one of the best engines ever put into a passenger car.

GM DID die, that is basically what bankruptcy is.

Failing to support them at this point is hurting your local economy. Most dealers are independently owned and contribute huge sums to local schools and other organizations.

Many of us within the local dealership network are just as mad as you about how we got here and what the government did. All we can do is work hard going forward. Everyday I think about my responsibility to make sure this gets paid back ASAP.

Unless I am mistaken it was revealed that the money GM "paid back" was borrowed from another tarp fund. so to me that equates to not a dime paid back, if you borrow money from me and then borrow some more to pay back the first then you haven't paid me back.. I think.