More economic GOOD NEWS: GM could post a profit for 2010

Discussion in 'Economy' started by rightwinger, Mar 17, 2010.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    And they said Obama would run them into the ground..


    GM could post 2010 profit, CFO says - USATODAY.com


    DETROIT — If the economy cooperates and auto sales recover a bit, General Motors has a reasonable chance of turning a full-year profit in 2010, its new chief financial officer said Wednesday.
    Former Microsoft CFO Chris Liddell, at his first meeting with reporters in Detroit, said the automaker is making money in Brazil and China, in the middle in North America and struggling in Europe.

    "Relative to where we were a couple of years ago, that's enormous progress,"
    he said in a conference room at GM's downtown Detroit headquarters.

    A full-year profit for GM, which left bankruptcy protection in July, would be the company's first since 2004 when it made $2.7 billion. It has posted more than $88 billion in losses since then.
     
    Last edited: Mar 17, 2010
  2. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Most companies are going to post profits this year so they dont get taxed when the rates go up next year.
     
  3. Oldandtired
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    Oldandtired BANNED

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    However, GM does not have the advantage of moving things around like that...so I see this as some promising news.

    The end may be around the corner.

    That being said...ya think that maybe we can return the unused stimulus money?

    THAT would help us considerably.
     
  4. Some Guy
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    Some Guy Deregulated User

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    Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.
     
  5. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    When you were bordering on bankruptcy a year ago...

    That is ECONOMIC GOOD NEWS

    I remember of all the doomsayers predicting GM would bring us down with them and we were throwing money away on a lost cause. Good move in saving GM
     
  6. Some Guy
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    Some Guy Deregulated User

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    I'm not saying it's not good news, it's just a funny headline. I would hope that GM becomes solvent because some of my money is invested in it, care of the government.
     
  7. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    Along the same line of wishful thinking the USA COULD post a month where we actually create more jobs than we lose in 2010 too :)

    Fingers crossed.
     
  8. Yurt
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    Yurt Gold Member

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    amazing what over 16 billion can do for 'profits'
     
  9. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Stay tuned..

    Should happen sometime this spring according to hiring projections
     
  10. Zona
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    Zona A guy in ariZONA

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    If they do end up with a profit, it will be considered too small. There is no way a republican will give him a compliment. Never. Even though they said he was going to bankrupt them last year.
     

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