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

[rightwinger]

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.

 

[Avatar4321]

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

 

[Oldandtired]

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.

 

[Some Guy]

Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.

 

[rightwinger]

Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.

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

 

[Some Guy]

Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.

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

That is ECONOMIC GOOD NEWS

I remeber 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

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.

 

[PLYMCO_PILGRIM]

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.

 

[Yurt]

amazing what over 16 billion can do for 'profits'

 

[rightwinger]

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.

Stay tuned..

Should happen sometime this spring according to hiring projections

 

[Zona]

Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.

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

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.

 

[Zona]

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.

NO comments on us losing 700 thousand jobs a month (Bush) to where we are now (Obama)? What changed to make those numbers happen?

 

[Oldandtired]

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.

NO comments on us losing 700 thousand jobs a month (Bush) to where we are now (Obama)? What changed to make those numbers happen?

People are starting to NEED more goods and services again.
You know...what happens EVERYTIME we have a recession, and start a recovery.

Your question should be...why is this recession taking so much longer to recover from than any other...with the exceptyion of the 30's-40's one and the lost decade of Japan?

Gee..wait a minute....hmmmm.....do you see what I see? Seems the only recessions that took longer to recover from than all of the others are the ones where the government tried to stimulate the economy with massive amounts of cash....

Coincidence?

 

[rightwinger]

Your question should be...why is this recession taking so much longer to recover from than any other...with the exceptyion of the 30's-40's one and the lost decade of Japan?

Gee..wait a minute....hmmmm.....do you see what I see? Seems the only recessions that took longer to recover from than all of the others are the ones where the government tried to stimulate the economy with massive amounts of cash....

You seem to have a problem distinguishing cause and effect.

Lets see.......maybe this recession is taking longer because it is the worst recession in 70 years

Maybe the government only gets involved in major recessions that jeopardize the country


Lets flash back one year. What shape would our economy be in if all major banks had failed and the economic panic had been allowed to continue? What shape would we be in if GM and Chrysler had folded? What would the employment rate be without the stimulus package?

 

[Misty]

Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.

Oh my, I thought corporate profits were BAD and EVIL.

How will liberals reconcile this dilemma.

 

[Misty]

amazing what over 16 billion can do for 'profits'

Lolol. Good point.

 

[Misty]

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.

NO comments on us losing 700 thousand jobs a month (Bush) to where we are now (Obama)? What changed to make those numbers happen?

Bush never lost 700 thousand jobs a month. That is an outright typical Obama distortion.

 

[Nonelitist]

Why is it an accomplishment if a company makes a profit after getting almost 20 billion dollars from the government?

I own a small business.... it would be pretty sweet for my profits if the government gave me $100,000, but I wouldn't consider a profit as much of a personal accomplishment.

Only in a libs world.

 

[Oldandtired]

Your question should be...why is this recession taking so much longer to recover from than any other...with the exceptyion of the 30's-40's one and the lost decade of Japan?

Gee..wait a minute....hmmmm.....do you see what I see? Seems the only recessions that took longer to recover from than all of the others are the ones where the government tried to stimulate the economy with massive amounts of cash....

You seem to have a problem distinguishing cause and effect.

Lets see.......maybe this recession is taking longer because it is the worst recession in 70 years

Maybe the government only gets involved in major recessions that jeopardize the country


Lets flash back one year. What shape would our economy be in if all major banks had failed and the economic panic had been allowed to continue? What shape would we be in if GM and Chrysler had folded? What would the employment rate be without the stimulus package?

I dont know the answers as they did not happen.

What I do know is where things are at now...and they are not good.

And what I do know as fact is what we are trying is what Japan tried for 10 years and did not work.

And what I do know is that the last time we tried this, it lasted for decades.

And what I do know is we survived the S and L issue, Enron collapse, the dot com collapse, the resignation of a president, the assisnation of a president, the assasination of a grewat civil rights leader, a multitude of wars, natural disasters, aids, Hitler, cuban missle crisis.......9-11....9-11....9-11

Americans are resilient. Only the government thinks otherwise.

 

[Murf76]

Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.

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

GM wasn't "bordering on bankruptcy". It actually went bankrupt. And during those proceedings, it was chopped up into pieces with the debt going to taxpayers and bondholders and the choicest bits presented to the UAW. It sure is alot easier to recover when you can stick somebody else with the rottenest parts of the balance sheet.

GM and the UAW can go fuck themselves. They'll never get another dime of my money.

 

[Truthmatters]

Wow. Isn't that cute. GM stands a reasonable chance of turning a profit. If only every business could hold themselves to that standard.

Oh my, I thought corporate profits were BAD and EVIL.

How will liberals reconcile this dilemma.

No that is people like you who have comprehension problems and twist and bastardize anything someone who doesnt agree with them says.

If jyou really listened you would hear the truth but you dont want to truth you want any lie and or bullshit line that helps you cling to your failed ideas.

Corporate profits are fine when they are not sooo excessive that they crash the economy, kinda like the banks who fucked us recently.

I know you will just repete this same stupid lie that Democrats hate corporate profits but at least someone pointed out you are a fucking liar.