My wife asked when we would be receiving our dividend check :thumbsup:

 

Wow! That was a quick turn around.

 

Now when are they going to buy back all that Government Motors stock ?

 

Please, don't shoot the messenger. I wonder if GM ever had a financial problem. A lot of share holders got burned, as well as a lot of debt holders. Amazingly, they have paid off about $7.3 billion of debt owed to the Canadian and American governments, bought a finance company for something like $3.5 billion and I understand they they have made other purchases. Not bad for a year when sales are still in the toilet. Makes a person wonder. If nothing else, the company seems to have made some sort of a turn around. I still wonder what is going on there.

 

Please, don't shoot the messenger. I wonder if GM ever had a financial problem. A lot of share holders got burned, as well as a lot of debt holders. Amazingly, they have paid off about $7.3 billion of debt owed to the Canadian and American governments, bought a finance company for something like $3.5 billion and I understand they they have made other purchases. Not bad for a year when sales are still in the toilet. Makes a person wonder. If nothing else, the company seems to have made some sort of a turn around. I still wonder what is going on there.

Yeah, they paid $7.3 billion USD in debt back alright. They used money left-over from the Stimulus Package the U.S. government originally gave them, and borrowed the rest from another Institution to do it, therefore, they STILL owe money.

They should buy a lot of TIDY-BOWL.....losers. :sad:

 

Turning a profit is easy when the government comes along and wipes away billions of dollars of debt. I hope the new stockholders (UAW and the federal government) are really enjoying this gift from the taxpayers.

 

Drop in plastic price has decreased their overhead since thats about 80% of their materials. That, in conjunction with idiots paying 5 grand to hold bolts and wear a labcoat while their 80K+ plus Vette gets built and viola - success.

I dont believe any of these reports or anything that I read any longer because its all shuffled numbers, statistics and other accounting BS. Its all smoke and mirrors to me because I default to people being liars these days because thats all I see anymore. Fluff and lies and smoke and mirrors and talk, talk, talk with no real action.

 

not that hard to do at the expense of tens of thousands of jobs, loss of pentions for thousands of 30-40 plus yr loyal workers, cancellation of debts from law suites owed to those who were injured by faulty or junk products all after fileing chapter 11.
Dont forget the stock holders who got burnt when their old gm stock basiclly became toilet paper.
Then there is the moneys owed the government basicly said dont worry the taxpayers will foot the bill!!

 

I thought I read that their retirees receiving pension payments totaled more than the current employee count. But, I also read GM's pension plan is underfunded by some $19B, which will eventually need to be paid into the pension plan. There's no doubt they got rid of a lot of liabilities through BK. The company is much more lean than prior to BK. I guess that means GM can buy a lender that can issue crappy loans to crappy customers, and go back to screwing it's self up again. I don't think GM should be pounding it's chest just yet. I can't think of one new vehicle or major redesign happen yet that wasn't in the pipeline before GM's problems started. I hasn't been two years since the financial market tanked. I think in several years down the road we will really know whether GM has it's junk together and whether what they report today is smoke and screens.

 

Well, if the govt would come bail me out and wipe out my debts I would have positive cash flow too! But I guess I'm not "too big to fail" along with the rest of the taxpayers. All this is doing is buying GM more time and prolonging the inevitable. Smoke & mirrors. 42 percent of GM's car sales are fleet/rentals, not going to stay profitable that way. Maybe they will sell a lot of Volts.