General Motors reports $2 billion third-quarter profit ahead of stock offering

Full story: TwinCities.com

Strong profits on new cars and trucks helped General Motors Co. earn $2 billion in the third quarter, enhancing the company's appeal as it nears next week's initial public stock offering.

Comments

Showing posts 1 - 4 of4

“I am always right.”

Since: Oct 09

Former MN Taxpayer

|
Report Abuse
|
Judge it!
|
#1
Nov 10, 2010
 

Judged:

1

1

Another name for accountants is magicians. "Now you see it now you don't."

GM is very luck with the timing of this announcement, aren't they?
mark harmon

Panama City Beach, FL

|
Report Abuse
|
Judge it!
|
#2
Nov 10, 2010
 
IrishMN wrote:
Another name for accountants is magicians. "Now you see it now you don't."
GM is very luck with the timing of this announcement, aren't they?
GM trying to generate a positive spin on the Nov 18 IPO! America is on to GM and there tactics, and this IPO will be prove of a company heading once again in the wrong direction of unprofitably because of ( to much overhead ) and fix cost!

Since: Feb 08

Big Lake, MN

|
Report Abuse
|
Judge it!
|
#3
Nov 10, 2010
 

Judged:

1

1

IrishMN wrote:
Another name for accountants is magicians. "Now you see it now you don't."
GM is very luck with the timing of this announcement, aren't they?
Irish, I think I finally agree with something you wrote. ;-)

So let me see if I understand this correctly. GM earned $1.9 billion to $2.1 billion net income for the quarter (not including the previous two quarters), but it took $50 billion in government aid to do so.(so, is this really a $48 billion dollar loss?) ;-)

GM also "has repaid or plans to repay taxpayers $9.5 billion" (so they are not sure which?) and "the government hopes to get back the remaining $40 billion" once the stock goes up for sale again.(But with no guarantee to us taxpayers).

Earning $2 billion on a $50 billion bailout isn't all that impressive to me. I wonder if us taxpayers will get that (fictional) money back or will the government keep it for a rainy day?[snark]
TaxTaxTax

United States

|
Report Abuse
|
Judge it!
|
#4
Nov 10, 2010
 

Judged:

1

1

Pay back taxpayers before UAW pensioners.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Showing posts 1 - 4 of4
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

7 Users are viewing the Buick Forum right now

Search the Buick Forum:
Topic Updated Last By Comments
Buick LeSabre: Problems & Solutions (Apr '07) 15 hr CPC 665
Buick Park Avenue (Mar '06) 19 hr sandi 424
2001 LeSabre starting/shutting off problems Jun 26 2996RJC 2
GM recalls small number of 2013 Buick Encore SUVs (Oct '13) Jun '14 Bob 4
US Gains Trade Victory In Auto Dispute With China May '14 Monty Anaconda 3
1999 Buick la Sabre May '14 Jerry novak 2
Why does canada suck (Jul '08) Apr '14 Alex 39
•••

Buy a New Car


Zipcode:
•••
Enter and win $5000
•••
•••