GM posts their highest profits ever!

[JSt0rm]

I think we need to pass an excessive profits tax. Its not fair GM is making so much money.

Excessive profits tax for all companies that are still union only.

 

[rudder]

Mitt Romny's Op-ed's first paragraphs:

Quote:
IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.

Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.

And he says he's the 'business expert'?

Well it is the same old GM with the same old union tactics of raping what they can from the company. Even with getting rid of $48 billion in debt with a swipe of the pen... GM still faces an uphill battle funding future liabilities. Not to mention GM doesn't know what to do with its underperming Opel brand.

Romney will get blasted for saying that... even though most people will ignore the amount of money poured into GM.

 

[woodie1]

snip ...

What about the bond holders that got screwed out of their investment?

IIRC there were about $29B in outstanding bonds that went thru bankruptcy court and ended being worth around $0.30 on the dollar. What a fantastic return for all the little people who owned those.

 

[shortylickens]

It's great that GM is seeing a profit. I still would not buy a car from GM. Reliability still is disappointing.

When they can compete with Toyota, Honda, Lexus... I'll be in the market.

They didnt boost their quality but Ford and Dodge have. Right now GM only comparable with Mitsubishi and Suzuki in terms of quality.

 

[boomerang]

Not at all, but then I'm an "evil capitalist." The whole point is this thread is bizarre, after all of the wailing and gnashing of teeth over the 1% getting wealthy on the backs of the 99%, we have a thread which is praising the 1% for making money hand over fist due at least partially to decimating the labor force.

Surely you can see how strange that is.

:thumbsup: The thought processes of the extreme left are curious to say the least. They're convinced they are the only ones thinking clearly despite being reminded regularly that their thinking is often bizarrely convoluted.

 

[Demo24]

They didnt boost their quality but Ford and Dodge have. Right now GM only comparable with Mitsubishi and Suzuki in terms of quality.

lol, no. Wake up and look at the vehicles they make now, not the disappointments from years ago.

 

[LTC8K6]

If you have a huge debt "erased", huge obligations cancelled, and don't have to pay taxes for a long time, you might make a nice "profit" too...

 

[Ausm]

I would call $28.8 billion being fucked over.





http://www.ritholtz.com/blog/2010/11/gm-the-most-successful-bailout-bankruptcy/

A blog post?? LMFAO Try again RepubliTroll.

 

[Ausm]

If you have a huge debt "erased", huge obligations cancelled, and don't have to pay taxes for a long time, you might make a nice "profit" too...

Can you start a new Right Wing rage thread on how banks fucked us all over on a factor of 10to the 100th power?

 

[Ausm]

Theres no such thing as a red state or blue state.
In any case its a 2003, I bought it in 2006 and been using ever since. Hard to prove its complete crap since I kept it so long. Problem is I cant afford anything new and it wont sell for much so I am stuck with it.

Also, I bought in Oregon and now live in Virginia.
How do you see my situation?

You bought it used and it was a P.O.S. why didn't you demand your money back right away?

 

[Ausm]

This is just about the funniest thread ever, where good news is marginalized, hacked, molested, raped, flipped, twisted, filtered and spun into BAD news. HA! Reverse engineered alchemy. Wow!

I tell ya, Rove has taught his minions well. Good job, minions.

Such skill. Such acumen. Such masterful BS'ing. lol

Only the RepubliTrolls in here would cheer for the collapse of the backbone of Manufacturing in the US. Hell even my pro-lifer rabid Right wing brother knows it was great thing to keep food on his table too. He hates when I bring up that his party that he supports doesn't give a fuck about manufacturing but he knows it is true.

The best part of the rabid rights rage in here is half these assholes don't even have a job or have a clue what was at stake here except for the Right Wing regurgitation of talking points. This is one thing the GWB did that I actually approved of was gving G.M a loan.

 

[Doc Savage Fan]

You think your Rightwing supplied graph would say anything different? I guess we will find out in Nov who the American people believe...my guess is you are going to be shit out of luck.

The graph represents what Obama told us vs. reality. This is factual information that you can't refute...so instead you attack the source...have you no shame?

 

[Griffinhart]

http://bottomline.msnbc.msn.com/_ne...m-annual-profit-soars-4th-quarter-disappoints

To bad President Obama didn't let them crash and burn like the GOP wanted...with the economy trending in a positive direction looks like the GOP is going to get HAMMERED in Nov...W000T!

How about that? it only took a $49 billion bailout and an Earthquake, Tsunami and nuclear disaster to the supply chain of their largest competitors.

 

[Ausm]

The graph represents what Obama told us vs. reality. This is factual information that you can't refute...so instead you attack the source...have you no shame?

Shame for not embracing your Right Wing delusions? What would been the best thing to do in this situation please wow me with your vast expertise. Bush initiated the loan and you can start from there.

 

[Ausm]

How about that? it only took a $49 billion bailout and an Earthquake, Tsunami and nuclear disaster to the supply chain of their largest competitors.

You hate America too? tsk tsk.

 

[Doc Savage Fan]

Shame for not embracing your Right Wing delusions? What would been the best thing to do in this situation please wow me with your vast expertise. Bush initiated the loan and you can start from there.

So the actual unemployment numbers plotted on Obama's chart are bogus?

Please tell me specifically your logic for concluding that I'm the deluded one here? The 'highly intelligent' liberal mind never ceases to fascinate me.

 

[Ausm]

So the actual unemployment numbers plotted on Obama's chart are bogus?

Please tell me specifically your logic for concluding that I'm the deluded one here? The 'highly intelligent' liberal mind never ceases to fascinate me.

I rather listen to why you think your chart trumps mine.

 

[Griffinhart]

You hate America too? tsk tsk.

Where did you get this from?

 

[Doc Savage Fan]

I rather listen to why you think your chart trumps mine.

Because the actual unemployment numbers plotted reflect reality...and the rest is speculative horseshit.

 

[michal1980]

Where did you get this from?

In asums world, if you dont support the bailout of Mismanaged car companies controlled by the UAW, you hate america.

 

[BoberFett]

I love the contrarian in you.

Nothing democratic can be evil and nothing libertarian can be good. EVER

GM = good guy drunken lazy unions, sweet sweet pensions and government bailouts.

Likewise. According to the "liberal" sounding board around here corporations rolling in profits are evil when they're related to finance, healthcare, or just about anything else, but when it's GM, suddenly it's wonderful.

 

[spacejamz]

Likewise. According to the "liberal" sounding board around here corporations rolling in profits are evil when they're related to finance, healthcare, or just about anything else, but when it's GM, suddenly it's wonderful.

Don't forgot that the GM senior executives who are in the 1% will now continue to 'pad' their financial accounts have been absolved of their financial sins and are now destined for sainthood...

 

[1prophet]

Are they ran by the UAW? I didn't think so...

You see guys like you don't care about all those little vendors that are being outsourced one buy one all you care about is inflating your ego while putting what you consider the other side down with some quick witted response.

Now to your question"Are they ran by the UAW?"


Neither were the guys that made NGK plugs but that didn't stop the UAW from striking, http://www.ble-t.org/pr/archive/gmstrike2.html

"I think it's a total disservice to all of America for General Motors to be using Japanese spark plugs in their products," UAW Vice President Richard Shoemaker said. "Again, I think it lends validity to what we've been saying all along, that they have an 'America last' strategy."

Fast forward to Today, a 2011 Colorado headlight switch, just one of many examples

20 years ago the UAW wouldn't have put up with that as shown by the strike over spark plugs, but now

Sorry , but the condition of the bailout should have been for America first not to help sustain foreign countries since it is American taxpayers money, and then claim a massive profit because of accounting tricks while paying a small percentage for the parts thanks to outsourcing.

On a side note, this so called great profitable company GM, does it pass on the savings to the consumer on their parts being made by prison labor in the USA.

Under the direction of watchful employees, the offender population is busy preparing good, quality meals on a budget of less than $2 per offender per day. They are also producing automobile starters in a very unique public-private partnership with Delco Remy Inc. Education programs — remedial, academic and vocational are being conducted Monday through Friday from early morning until 9 p.m.

http://www.vadoc.state.va.us/facilities/central/coffeewood/
http://www2.starexponent.com/news/2...dit_for_success_at_coffeewood_corr-ar-325756/

 

[Ausm]

You see guys like you don't care about all those little vendors that are being outsourced one buy one all you care about is inflating your ego while putting what you consider the other side down with some quick witted response.

Now to your question"Are they ran by the UAW?"


Neither were the guys that made NGK plugs but that didn't stop the UAW from striking, http://www.ble-t.org/pr/archive/gmstrike2.html


Fast forward to Today, a 2011 Colorado headlight switch, just one of many examples

20 years ago the UAW wouldn't have put up with that as shown by the strike over spark plugs, but now

Sorry , but the condition of the bailout should have been for America first not to help sustain foreign countries since it is American taxpayers money, and then claim a massive profit because of accounting tricks while paying a small percentage for the parts thanks to outsourcing.

On a side note, this so called great profitable company GM, does it pass on the savings to the consumer on their parts being made by prison labor in the USA.

http://www.vadoc.state.va.us/facilities/central/coffeewood/
http://www2.starexponent.com/news/2...dit_for_success_at_coffeewood_corr-ar-325756/

Where and when did I say that I didn't care about 3rd party aftermarket OEM parts outsourcing?

 

[Ausm]

In asums world, if you dont support the bailout of Mismanaged car companies controlled by the UAW, you hate america.

But in your world you support Banks leveraged 100 to 1? I suppose you would classify that as competent management?