GM sales up 40 percent

[Neubarth]

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

My first impression was smoke and mirrors, but looking at the numbers, GM is actually making money. Ford is making more with all of its overseas and cross border plants.

Now, we will see if GM has lasting power or if it has to offshore and crossborder production. If so, have the American people actually bought into an American company putting Americans back to work. I doubt that as a lasting reality.

WE NEED LASTING JOBS IN THIS COUNTRY. We do not need what Ford is doing. Yet, I expect to see another Ford like movement in this country in the coming months.

Somebody please dissuade me of this feeling.

 

[Chris]

This is a plus. It shows the new management of GM is proving their worth but GM success also partially belongs to the Toyota backlash following the recalls and media hype.

Which is exactly the point.

GM pared down and made itself profitable again, and their management is much better than it was.

Which is good for the country.

Another success for Obama as well.

 

[Neubarth]

GM pared down and made itself profitable again, and their management is much better than it was....

Another success for Obama as well.

And how do you see this as a success for Obama? I know Ed Whitacre. He would never give Obama credit for what the Bankruptcy courts made possible. All you have to do is abrogate the union contracts. As a life long registered Democrat, I can assure you that the Democratic Party would not claim that they were in any way responsible for the reduction in pay and benefits for Union employees. Obama had no part in the process.