GM profits slip 41%- Papa Obama takes full blame -'you didn't get there on your own'

[francoHFW]

See that Chevy Volt ? You didn't build that, someone else made that happen !

Someone in CHINA. maybe that's why they're causing fires in American garages?

More destructive un-American Rush/Foxcrappe. Volts are sell ing as expected NOW- now the tidal wave of BS is over, have been NO FIRES except in the lab under ridiculous conditions. Great story, no thanks to Pub a-holes or dupes...

 

[The T]

Aren't the taxpayers still 40 billion screwed?

Try $42 BILLION


http://www.sigtarp.gov/Quarterly Reports/July_25_2012_Report_to_Congress.pdf

As a TIP? Start reading around Page 52 which explains Chrysler and GM and subs...and losses incurred.

 

[The T]

What? GM outsoursed American jobs to Eurpoe? No ******* way.

And to CHINA...

[ame="http://www.youtube.com/watch?v=Lvl5Gan69Wo"]General Motors is becoming China Motors - YouTube[/ame]

People need to hear this!

They DO. GM OWES the American taxpayer $42B...

and they have 11 operations in Communist China? Really?

 

[Dick Tuck]

The sky is falling, Obama didn't help GM. Why not try some facts for a change. GM turned a nice profit and beat analyst's predictions.

GM 2nd-quarter net off 40%, revenue down 4.6% - MarketWatch

GM reported that it earned $1.5 billion, or 90 cents a share, compared with $2.5 billion, or $1.54, in the year-earlier period. Revenue slipped to $37.6 billion from $39.4 billion. A survey of analysts by FactSet Research produced consensus estimates for GM of 74 cents a share of profit on $38.42 billion of revenue. Results in North America, international and the GM Financial unit were "solid, but we clearly have more work to do to offset [headwinds,] especially in regions like Europe and South America," Chairman and Chief Executive Dan Akerson said in a statement.

 

[g5000]

The Story No One Tells About One Of America

"Most people simply don’t realize that the bailout of GM wasn’t a bailout of the company. It wasn’t a bailout of its shareholders, who lost everything… or its bondholders, who lost almost everything. Where did the money go? To the union. The United Auto Workers (UAW) ended up with all the money.

Let me show you how…

GM slid into bankruptcy primarily because it couldn’t profitably manufacture cars. (Yes, there were plenty of other issues, like too much debt, investments in subprime mortgages, etc. But the primary reason it couldn’t solve these other problems was that it hadn’t been making routine profits from manufacturing cars in about 20 years.) And the biggest single reason it couldn’t profitably make cars was because its labor costs had soared.

Well, guess what? At $56 per hour, GM still has the highest labor costs in the industry."

Tonight, the role of Bernie Madoff will be played by Barack Obama

There was more than just labor costs behind GM's fall. Other car companies have labor union costs, too. GM made horrible management decisions.

And then there was GMAC, making subprime auto and mortgage loans like there was no tomorrow.

You do remember the sub-prime crisis, right? You were aware GMAC was GM's banking arm, right? And it made sub-prime loans like everyone else.

Today, GMAC is known as Ally Bank.

THAT is the story no one is telling.

 

[ConzHateUSA]

GM profits slip 41% or you didn't get there on your own

General Motors' profits fell 41% in the second quarter as troubles in Europe undercut strong sales in North America.​

Papa Obama takes full responsibility for that....

Obama: "If you've got a business, you didn't - YouTube

How long have you hated America and its businesses?

 

[ConzHateUSA]

The sky is falling, Obama didn't help GM. Why not try some facts for a change. GM turned a nice profit and beat analyst's predictions.

GM 2nd-quarter net off 40%, revenue down 4.6% - MarketWatch

GM reported that it earned $1.5 billion, or 90 cents a share, compared with $2.5 billion, or $1.54, in the year-earlier period. Revenue slipped to $37.6 billion from $39.4 billion. A survey of analysts by FactSet Research produced consensus estimates for GM of 74 cents a share of profit on $38.42 billion of revenue. Results in North America, international and the GM Financial unit were "solid, but we clearly have more work to do to offset [headwinds,] especially in regions like Europe and South America," Chairman and Chief Executive Dan Akerson said in a statement.

Bet you cheered when Chicago lost the Olympics too...you America haters really ought to find a new place to live since you hate our cities and our companies so much.

 

[g5000]

Journey back in time to 2007:

The cratering of the subprime mortgage industry could present more than just a pothole for General Motors Corp.

The world's largest auto maker disclosed Thursday that it will need more time to file its 2006 annual report with the Securities and Exchange Commission, marking the second year in a row the company has postponed the key filing.


Many analysts attribute this year's delay to a substantial hit the Detroit-based automaker might take from the exposure its part-owned finance unit _ GMAC Financial Services _ has to the business of making mortgage loans to people with weak credit or heavy debt burdens.

GMAC's Subprime Mortgages



[

 

[buckeye45_73]

GM profits slip 41% or you didn't get there on your own

General Motors' profits fell 41% in the second quarter as troubles in Europe undercut strong sales in North America.
​

Papa Obama takes full responsibility for that....

Obama: "If you've got a business, you didn't - YouTube

How long have you hated America and its businesses?

Wait a sec....are you saing you like business and America? I dont buy it for a minute.....but since GM is owned by the government and unions.....yeah I dont consider it a real business

 

[The T]

The sky is falling, Obama didn't help GM. Why not try some facts for a change. GM turned a nice profit and beat analyst's predictions.

GM 2nd-quarter net off 40%, revenue down 4.6% - MarketWatch

GM reported that it earned $1.5 billion, or 90 cents a share, compared with $2.5 billion, or $1.54, in the year-earlier period. Revenue slipped to $37.6 billion from $39.4 billion. A survey of analysts by FactSet Research produced consensus estimates for GM of 74 cents a share of profit on $38.42 billion of revenue. Results in North America, international and the GM Financial unit were "solid, but we clearly have more work to do to offset [headwinds,] especially in regions like Europe and South America," Chairman and Chief Executive Dan Akerson said in a statement.

Juxtaposed to what it OWES? Is NOT a ******* PROFIT.

Jackass.

 

[Neotrotsky]

U.S. unemployment, as measured by Gallup without seasonal adjustment, was 8.2% in July

 

[WillowTree]

If GM is turning a profit why are they shipping our jobs overseas? and why the **** don't they pay us back the money they owe us?

 

[WillowTree]

And why do we the taxpayer have to subsidize each volt sale with a ten thousand ******* dollar incentice. Shut the **** up DICK LIAR.

 

[francoHFW]

you're a brainwashed moron hater...lol

 

[Neotrotsky]

And why do we the taxpayer have to subsidize each volt sale with a ten thousand ******* dollar incentice. Shut the **** up DICK LIAR.

The volt is a joke


If one breaks down all the state and federal monies spent on this
the US subsidies of each Volt may reach 250K but this does not stop the Federal gov't by way of the Department of Energy
from flushing $10.4 million down Volt Village.


What is it with these statist leaders types and cars

 

[WillowTree]

No libtards can answer simple questions huh?

 

[Neotrotsky]

h/t moonbattery

 

[NYcarbineer]

GM's losses were mainly in Europe but I'm sure you geniuses can find a way of blaming that on Obama too.

What? GM outsoursed American jobs to Eurpoe? No ******* way.

I'm beginning to think you may actually be as stupid in real life as you are on this board.

 

[tjvh]

"Our results in North America were solid, but we clearly have more work to do to offset the headwinds we face, especially in regions like Europe and South America," said GM chairman and CEO Dan Akerson. "Despite the challenging environment, GM has now achieved 10 consecutive quarters of profitability, which is a milestone the company has not achieved in more than a decade."

Sweet. GM is alive; Osama bin Laden is dead.

And both of them for a second time.

 

[auditor0007]

GM's losses were mainly in Europe but I'm sure you geniuses can find a way of blaming that on Obama too.

What? GM outsoursed American jobs to Eurpoe? No ******* way.

And to CHINA...

[ame=http://www.youtube.com/watch?v=Lvl5Gan69Wo]General Motors is becoming China Motors - YouTube[/ame]

Yea, imagine that; GM is actually going to build cars in China since they will be selling more cars in China than they do in the US. Stupid people think that GM should build them all here, and then ship them to China to sell. Hell, Toyota, Nissan, and Honda and now Hyundai have all learned it is better and cheaper to build them in the country you sell them. But you boobs on the right keep trying to tell us this is a horrible thing that GM will be building cars in China to sell there. It's funny shit man.