GM Loses $38.7 billion in 2007, Exxon Mobil Makes $40.6 billion in 2007

[RightIsWrong]

Originally posted by: Queasy

Originally posted by: Slew Foot

Originally posted by: Queasy

Yep. GM is trying to shed all the expenses that keep holding it down.

You mean like employees?
http://forums.anandtech.com/me...=2153629&enterthread=y

Union employees, yep. It is any wonder that GM (and Detroit in general) is taking a financial beating while foreign car makers are building manufacturing plants across the south?

GM isn't in this mess because of the unions. In fact, the "foreign" car companies that are based in the US making their products are paying their employees MORE than the union shops of the Big 3.

http://www.aftermarketnews.com...aspx?type=art&id=80833

The problem is that GM, as stated previously, makes the same car for five different "companies" with only minor alterations that cost a ton to "customize". This is why your Chevy Cobalt, Pontiac G5 and Saturn Astra are all running the same motor, chasis and 90% similar body style.

Couple that with banking on less full efficient line up and you have the recipe for lower sales and a higher cost of production per vehicle.

You want to increase profits....don't cut your workforce, cut your number of product lines so that you cut away all of the expenses that goes along with the extra molds, dies and labor to switch them back and forth.

Then, realize that the country is moving towards less Suburbans and Hummers and more towards hybrids of which you are just starting to mass produce and the ones that you are producing are still getting shitty MPG. EX: Yukon 21MPG, Saturn Aura 32MPG, Malibu 32 MPG, Saturn Vue 25MPG.

 

[OutHouse]

Originally posted by: ja1484

Originally posted by: Citrix
how can a company loose 38.7 billion in one year and still stay open?

"lose"

And they can do that because:

1) They have quite a few monies.
2) Magic bookkeeping!

crap i cant type today, getting paged at 3am sucks.

 

[Queasy]

Originally posted by: RightIsWrong

Originally posted by: Queasy

Originally posted by: Slew Foot

Originally posted by: Queasy

Yep. GM is trying to shed all the expenses that keep holding it down.

You mean like employees?
http://forums.anandtech.com/me...=2153629&enterthread=y

Union employees, yep. It is any wonder that GM (and Detroit in general) is taking a financial beating while foreign car makers are building manufacturing plants across the south?

GM isn't in this mess because of the unions. In fact, the "foreign" car companies that are based in the US making their products are paying their employees MORE than the union shops of the Big 3.

http://www.aftermarketnews.com...aspx?type=art&id=80833

The problem is that GM, as stated previously, makes the same car for five different "companies" with only minor alterations that cost a ton to "customize". This is why your Chevy Cobalt, Pontiac G5 and Saturn Astra are all running the same motor, chasis and 90% similar body style.

Couple that with banking on less full efficient line up and you have the recipe for lower sales and a higher cost of production per vehicle.

You want to increase profits....don't cut your workforce, cut your number of product lines so that you cut away all of the expenses that goes along with the extra molds, dies and labor to switch them back and forth.

Then, realize that the country is moving towards less Suburbans and Hummers and more towards hybrids of which you are just starting to mass produce and the ones that you are producing are still getting shitty MPG. EX: Yukon 21MPG, Saturn Aura 32MPG, Malibu 32 MPG, Saturn Vue 25MPG.

Your own link explains it:

But Toyota workers' pay topping that of UAW members comes as the union faces contract negotiations this year with struggling Detroit companies that will seek billions in concessions, partly because they face higher costs for retiree health care and pensions than their foreign-owned competitors.

That is what is killing GM and the other two major US automakers.

And while you say that the country is moving away from Suburbans and Hummers, the Toyota Tundra is a huuuge seller for Toyota.

edit: Heh, as a native of Alabama, I have to laugh at this part:

"If you start looking at where they put these plants, they go out to the most desolate places you've ever been in your life," Casteel, an Alabama native, said of foreign automakers. "And they make sure there are no other competitive wages with any other industry. You'll drive through these piney woods for an hour and all of a sudden you run upon this major manufacturing facility."

There's a Mercedes plant just outside of Tuscaloosa and not that far from Birmingham. An easy commute from both cities. They have a test track there and have partnered with the city of Tuscaloosa providing SUVs to the police force and what not. Tuscaloosa went through a mini-boom after the plant opened.

There's another plant near Gadsden that is doing the same as well. Now, these aren't huge metropolitan areas like Detroit, but they are hardly 'desolate'.

Kia just opened a plant Southwest of Atlanta. Not really desolate especially since the south side of Atlanta is expected to experience growth to begin with because the north side is just about grown out as far as it can.

Mississippi....well, I can't really argue there. The entire state is desolate.

 

[Pocatello]

I'm glad I contribute every week to the oil companies. I'm not bias either, I contribute evenly to all the big oil, Shell, Exxon-Mobil, Chevron etc.

 

[ConstipatedVigilante]

Originally posted by: waggy

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

people actually beleive that? hmm wow.


i know people dislike jews. but that they control the world and top business? LOL

I think your sarcasmometer is broken.

 

[Marinski]

Its the jewish union members. Thats the problem.

 

[jjones]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

lol, best one-liner I've read all day.

 

[Tempered81]

Originally posted by: Analog


The company's quarterly profit of $11.6 billion and annual take of $40.6 billion ? $77,213 per minute

thats like burning 450 gallons of gas per second, and taking 100% profit off it. so if they avg like 10% profit margin per gallon of gas, does that mean that the US is burning 4,500 gallons of gas per second?

I realize none of that correlates, and that exxonmobile is making profits of 90% of the entire world's oil, but I wonder how much gas the us comsumes on a daily basis.

anyone know?

 

[ElFenix]

Originally posted by: jaredpace

Originally posted by: Analog


The company's quarterly profit of $11.6 billion and annual take of $40.6 billion ? $77,213 per minute

thats like burning 450 gallons of gas per second, and taking 100% profit off it. so if they avg like 10% profit margin per gallon of gas, does that mean that the US is burning 4,500 gallons of gas per second?

I realize none of that correlates, and that exxonmobile is making profits of 90% of the entire world's oil, but I wonder how much gas the us comsumes on a daily basis.

anyone know?

google is your friend

 

[Tempered81]

ah thanks, we burn 388.6 million gallons of gasoline per day here.

thats

4500 gallons per second


weird... i've never been so close at calculating something in my life

edit: my calcs made no sense, so it was more like a guess

edit: elphenix has 4,457.48 posts per second

 

[dr150]

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

Pray tell, what are the names of these "world controlling" Jews???.....





..........I thought the Free Masons controlled the world.....

 

[jagec]

Originally posted by: Queasy

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

These Jews don't also happen to be shape-shifting lizard people do they? Cause, man...that would really suck.

They do indeed! They are able to hide this by use of mind-controlling "chemtrails" in the sky. What, you thought that airplanes caused those? Well, how come not every plane has a contrail? Huh? Huh?

Originally posted by: waggy

Originally posted by: LS21
because GM is the oil industry..their CEOs are puppets and both are actually run by 1 of the 7 world-controlling jews

people actually beleive that? hmm wow.


i know people dislike jews. but that they control the world and top business? LOL

We're joking, but yes, some people actually do believe that.

 

[Modelworks]

Yep, and I bet GM will fill those new jobs they create from buyouts with qualilty American workers.


Workers that speak anything but english.


Its like the guy I saw on cnn that had a job at whirlpool.
They shut down here, went to mexico.
He said he didn't blame them, they are a business, out to make money.
Here they paid him $15/hour, there they pay $3/hour.

 

[Modelworks]

Originally posted by: RightIsWrong

GM isn't in this mess because of the unions. In fact, the "foreign" car companies that are based in the US making their products are paying their employees MORE than the union shops of the Big 3.

http://www.aftermarketnews.com...aspx?type=art&id=80833

Nope they are in this mess because they can't compete with cheap labor and cheap materials.

Those figures from the link are USA wages. They can afford to pay more here.
They are using it as a publicity tool. Something to say to the government, look at the great american jobs we provide. We are great for the USA !

The fact is they can do all this because they don't produce most of their inventory here, but in other countries where labor and materials are far cheaper.

 

[LS21]

Originally posted by: dr150


Pray tell, what are the names of these "world controlling" Jews???.....

1. David Stern
2. an unamed Rothchild
3. Mike Kryziewski
4. Adam Sandler's godfather
5. William Sidis (hes still alive)
6. Woody Allen
7. Goldberg (the former WWE wrestler)