GM posts $1.33 billion profit in sign of growing strength

General Motors Co. said today it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public. Full Story
banana republic

Saint Paul, MN

#1 Aug 12, 2010
I refuse to drive a "bailout-mobile." Unions killed GM. Can't wait to see which "INTERNATIONAL INVESTORS" will buy up the 62% share of GM that the GuvMINT owns. Thank goodness Obama signed the "financial reform" bill into law so now this "too big to fail" business can continue. I suspect that all manner of industry will be sold off to foreign investors as our economy is INTENTIONALLY left out to dry and they'll justify it saying, "we need the money and the jobs!" The Private Federal Reserve Bank now has all of this power. It will lead the way to Global Government in the hands of few and utter poverty and slavery planet-wide.

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

Thomas Jefferson,(Attributed)
3rd president of US (1743 - 1826)

“I am always right.”

Since: Oct 09

Former MN Taxpayer

#2 Aug 12, 2010
"Happy days are here again..."

Thank you Mr. Obama.

Since: Feb 08

Baldwin City, KS

#3 Aug 12, 2010
Perhaps Mr Whitacre is leaving because he still has a sense of shame?

It's a rare thing to have these days, I know, but I like to believe it's still possible.
Arnold

Saint Paul, MN

#4 Aug 12, 2010
GM succeeds after facing doom, and of course right-wing fanatics complain.

They really, really hate America. Want it to fail.
Sure

Saint Paul, MN

#5 Aug 12, 2010
I am sure they will want to pay us back with stock in the new "Gubment Motors" when it is issued next week. We need to demand cash money only. We bailed those loser unions and whiners out with cash and need to demand cash in return.
Remember November. Vote all democrats out!
Arnold

Saint Paul, MN

#6 Aug 12, 2010
Sure wrote:
I am sure they will want to pay us back with stock in the new "Gubment Motors" when it is issued next week. We need to demand cash money only. We bailed those loser unions and whiners out with cash and need to demand cash in return.
Remember November. Vote all democrats out!
Bush was the first to bail out the auto companies.

Do you have no capacity to remember something from less than 2 years ago?
Detroit dave

Panama City, FL

#7 Aug 12, 2010
Arnold wrote:
GM succeeds after facing doom, and of course right-wing fanatics complain.
They really, really hate America. Want it to fail.
nothing is forever, GM made stupid busines deceisons,gave in to unions, and out of business is where they should have went! Once they go public, there will be no more bailouts for GM! America wont stand for it, so they will go the way of the dino, or at best out of the North American market!
Detroit dave

Panama City, FL

#8 Aug 12, 2010
Sure wrote:
I am sure they will want to pay us back with stock in the new "Gubment Motors" when it is issued next week. We need to demand cash money only. We bailed those loser unions and whiners out with cash and need to demand cash in return.
Remember November. Vote all democrats out!
Right on, lets get our taxpayer money back, then watch'em beg for another bailout! With the Democrats out, there will be major changes in busines enviroment,
Detroit dave

Panama City, FL

#9 Aug 12, 2010
Arnold wrote:
GM succeeds after facing doom, and of course right-wing fanatics complain.
They really, really hate America. Want it to fail.
Americans hate GM,because, they screwed over so many customers,sold inferrior product for years, and then the taxpayers bailed them out! Americans did not have a voice in that deceison!
UNEXPECTED

Monroe, LA

#10 Aug 12, 2010
Did anyone notice Ford's Profit is literally Double GM's ?....
Joe

Hastings, MN

#11 Aug 12, 2010
Shhhhhhhhhh... Now don't you be peeecing on GM's parade.
UNEXPECTED wrote:
Did anyone notice Ford's Profit is literally Double GM's ?....
Arnold

Saint Paul, MN

#12 Aug 12, 2010
UNEXPECTED wrote:
Did anyone notice Ford's Profit is literally Double GM's ?....
It's the change, not the absolute amount, that matters.

Perhaps you don't invest, so it's understandable to make such errors.
And Justice For All

Elk River, MN

#13 Aug 13, 2010
Seems like a lot of ill-will here, and hard for me to understand why. Unlike with the mortgage/securities fiasco, at least it appears that GM and Chrysler will pay the taxpayers back. Granted, these manufactures' are much different companies now - they have to be in order to survive. They had to change structurally - fewer blue and white collar jobs, fewer dealers, different (less expensive) legacy costs, and yes many stock and bond holders lost their investments. But, the U.S. manufacturing base has been preserved, and thousands of jobs have been saved from elimination. I would call that a successful endeavor, and has prevented an even bigger collapse in our greater economy. I am not republican nor democrat, but I am pleased the way this has worked out. And I will definitely purchase a vehicle from GM and/or Chrysler to show my support.

I encourage others to do the same.
Joe

Hastings, MN

#14 Aug 13, 2010
Surely you are joking... Right? If not, you should be really ashamed of yourself for thinking it is OK to wipe out the investments of many investors, business owners, dealership employees jobs, etc etc.

GM was failing because they were unsuccessful in providing a product to the public at a price the buying public was willing to pay, say nothing of the crappy vehicles and poor customer service. The capitalist free market system is a living evolving business system that takes care of its dead. If GM had gone broke (as they should have) Ford, Toyota, Honda and all of the rest would have quickly absorbed their sales and jobs. In a few years, GM would have been a distant memory, just like WorldCom, Enron, TWA, etc etc.

Government bailouts of GM and their subsidiarieswas a political move to reward a Union group that supported Obummer. It was also yet another takeover of a private company by government that knows nothing about business (only 7% of Obama's cabinet has ANY private sector experience). I predict that Obummer will retain a majority share of the company after their IPO. Its the socialist way afterall to own all significant industries within your country (ie: health care, education,GM, Student loan and home mortgage industry, AIG.

If you believe the bailout was needed and you approve of what Obummer has done to America in the past 19 months..... Then you are a sad and pathetic American.
And Justice For All wrote:
Seems like a lot of ill-will here, and hard for me to understand why. Unlike with the mortgage/securities fiasco, at least it appears that GM and Chrysler will pay the taxpayers back. Granted, these manufactures' are much different companies now - they have to be in order to survive. They had to change structurally - fewer blue and white collar jobs, fewer dealers, different (less expensive) legacy costs, and yes many stock and bond holders lost their investments. But, the U.S. manufacturing base has been preserved, and thousands of jobs have been saved from elimination. I would call that a successful endeavor, and has prevented an even bigger collapse in our greater economy. I am not republican nor democrat, but I am pleased the way this has worked out. And I will definitely purchase a vehicle from GM and/or Chrysler to show my support.
I encourage others to do the same.
Cooked Books

Minneapolis, MN

#15 Aug 13, 2010
GM borrows 80 Billion.

GM pays back 10 billion.

GM makes a billion+ in profit.

Any body see anything wrong?

I'll make mine a Ford!
Hater Wingnut

Saint Paul, MN

#16 Aug 13, 2010
When GM succeeds, I get angry. I want them to fail like I want America to fail. If I acknowledge that they are succeeding, then I am admitting that liberals can do good things and that my ideology created a near depression.

That's just too much for me to bear, so I root against GM and America in general. Good news for everyone is bad news for me.

Aren't I monstrous?
Cooked Books

Minneapolis, MN

#17 Aug 13, 2010
Hater Wingnut wrote:
When GM succeeds, I get angry. I want them to fail like I want America to fail. If I acknowledge that they are succeeding, then I am admitting that liberals can do good things and that my ideology created a near depression.
That's just too much for me to bear, so I root against GM and America in general. Good news for everyone is bad news for me.
Aren't I monstrous?
You are monstrous indeed!

You support governmnt borrowing TRILLIONS to pay corporate welfare to companies producing failed products.

The name of the game in the USA is competition, build the best and you will sell it, like Ford.

GM has built junk cars for years, they could have been building a quality small car instead of the Cobalt. Building efficent durable transmissions to last. To build a Duromax Diesel that lasts as long as a Cummins. And now an electric priced out of the range of 99% of the car buyers. 10,000 of the Volt will be produced, a mear drop in the bucket. And all the time the taxpayers will subsidise each Volt to the tune of $8,000.

Chrysler could have been using a quality engine instead of the 2.7 junker. A Chrysler buyer for years but no longer.

Meanwhile the $$$$ used are begged from China, Obomba is like a teenager with his first credit card, in his case it's the "China Express" card.

Excuse me while I hurl..........

thanks for waiting, my next car will be a Ford, good quality and NOT a corporate welfare case!
Hater Wingnut

Saint Paul, MN

#18 Aug 13, 2010
See how much I hate this country? My tiny brain snapped when that black Kenyan imposter took the oath of office and I havent been coherent since.

TRILLIONS! TRILLIONS! That's a big number! China!! Odombadomba! Grzyfxachasjhackwheeze!!

Fizzle...
Art smass

Benzonia, MI

#19 Aug 14, 2010
Hater Wingnut wrote:
When GM succeeds, I get angry. I want them to fail like I want America to fail. If I acknowledge that they are succeeding, then I am admitting that liberals can do good things and that my ideology created a near depression.
That's just too much for me to bear, so I root against GM and America in general. Good news for everyone is bad news for me.
Aren't I monstrous?
Yes! You are a american hating A&&hole !I hope your welfare check bounces!

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