GM lost $36,000 per minute 4Q 2005

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
OUCH! :(

(By comparison, the US government borrowed $595,000 per minute last year to make up for it's shortfall. $36,000 per minute for one company is huge!!!)
 

DanTMWTMP

Lifer
Oct 7, 2001
15,906
13
81
damn....
I heard that a long time ago, GM and the unions struck a deal where people will still be able to have a job, even when automation takes over their jobs. A friend of mine told me that someone he knows works @ a GM plant, and he gets paid 80k to do nothing. 8 hours a day, he comes in, does the crossword puzzle.

and i heard of retirement pensions, etc..
phok unions.
 

MikeMike

Lifer
Feb 6, 2000
45,885
66
91
Originally posted by: DanTMWTMP
damn....
I heard that a long time ago, GM and the unions struck a deal where people will still be able to have a job, even when automation takes over their jobs. A friend of mine told me that someone he knows works @ a GM plant, and he gets paid 80k to do nothing. 8 hours a day, he comes in, does the crossword puzzle.

and i heard of retirement pensions, etc..
phok unions.

lets drop the union talk... there are all kinds of things wrong with the UAW
 

jupiter57

Diamond Member
Nov 18, 2001
4,600
3
71
Ah, yes!
GM looses $36,000 per minute, Quite possibly true.
And now,"The rest of the Story"!

GM executives were receiving bonuses in the amount of $39,500 per minute in 2005. (Purely an example, the ACTUAL total is likely MORE!)

Only in America would a company be able to list "Bonuses" as a business expense in order to post a loss!

(Disclaimer: I have no hard data to back up these statements, I've just been following the accounting "methods" of Big Business since the Chrysler Corporation Bail-out many years ago. In that case, the had given their top Execs. almost twice the amount of money they claimed to be losing in prior years.)
 

chambersc

Diamond Member
Feb 11, 2005
6,247
0
0
Originally posted by: jupiter57
Ah, yes!
GM looses $36,000 per minute, Quite possibly true.
And now,"The rest of the Story"!

GM executives were receiving bonuses in the amount of $39,500 per minute in 2005. (Purely an example, the ACTUAL total is likely MORE!)

Only in America would a company be able to list "Bonuses" as a business expense in order to post a loss!

(Disclaimer: I have no hard data to back up these statements, I've just been following the accounting "methods" of Big Business since the Chrysler Corporation Bail-out many years ago. In that case, the had given their top Execs. almost twice the amount of money they claimed to be losing in prior years.)

lol, then what was the point of this post then. trolling?
 

dartworth

Lifer
Jul 29, 2001
15,200
10
81

Originally posted by: DanTMWTMP
damn....
I heard that a long time ago, GM and the unions struck a deal where people will still be able to have a job, even when automation takes over their jobs. A friend of mine told me that someone he knows works @ a GM plant, and he gets paid 80k to do nothing. 8 hours a day, he comes in, does the crossword puzzle.

and i heard of retirement pensions, etc..
phok unions.





I heard a story about a pot of gold at the end of the rainbow...?:confused:

If you are going to post, keep it on topic. If you can't do that, at least get your facts straight.
 

FeuerFrei

Diamond Member
Mar 30, 2005
9,144
929
126
Originally posted by: MIKEMIKE
Topic Title: GM lost $36,000 per minute 4Q 2005

Think that's impressive, check out Exxons 3rd quarter earnings last year.

Riding a wave of high prices for oil, gasoline and natural gas, Exxon reported third-quarter net income of $9.92 billion, up 75 percent from the year-ago period, on revenue of $100.72 billion. It was among the biggest quarterly profits of any company in history, and amounted to a per-minute profit of $74,879.23 during the quarter.
Source
 

Eli

Super Moderator | Elite Member
Oct 9, 1999
50,419
8
81
Originally posted by: FeuerFrei
Originally posted by: MIKEMIKE
Topic Title: GM lost $36,000 per minute 4Q 2005

Think that's impressive, check out Exxons 3rd quarter earnings last year.

Riding a wave of high prices for oil, gasoline and natural gas, Exxon reported third-quarter net income of $9.92 billion, up 75 percent from the year-ago period, on revenue of $100.72 billion. It was among the biggest quarterly profits of any company in history, and amounted to a per-minute profit of $74,879.23 during the quarter.
Source
That's fscking INSANE.

:Q
 

TrevorRC

Senior member
Jan 8, 2006
989
0
0
My mom used to be their PR & Marketing director for several of their divisions.

Shame she quit :p (Exxon, that is.)
 

Squisher

Lifer
Aug 17, 2000
21,204
66
91
GM better get their sh!t together or I'll be screwed. The company I work for derives 80% of their revenue from sales to GM. :(
 

RU482

Lifer
Apr 9, 2000
12,689
3
81
Sad but true...the industries that put us where we are will be the ones that drag us down
 

IGBT

Lifer
Jul 16, 2001
17,962
140
106
..neither ford or gm have a backbone built on economical reliable cars. Their vehicles are fashion statements rather then fundamental transportation. They got caught in the same pinch back in the 70's...
 

RU482

Lifer
Apr 9, 2000
12,689
3
81
Originally posted by: IGBT
..neither ford or gm have a backbone built on economical reliable cars. Their vehicles are fashion statements rather then fundamental transportation. They got caught in the same pinch back in the 70's...


wow...you are talking out of your ass man
 

Kadarin

Lifer
Nov 23, 2001
44,296
16
81
Originally posted by: redly1
Originally posted by: IGBT
..neither ford or gm have a backbone built on economical reliable cars. Their vehicles are fashion statements rather then fundamental transportation. They got caught in the same pinch back in the 70's...


wow...you are talking out of your ass man

No kidding! I suppose by that assertion, everyone driving a Ford Festiva or Chevy Metro is doing it to make a fashion statement...

What a stupid thing to say... :confused: