GM Records its highest profit ever vol. $7.6 Bill

[dankenstien88]

 As a Cadillac/Buick buff, this is great news ! Shoot... as an American this is great news !

I heard on NPR that Ford also had a PHENOMINAL year, but alot of that is due in part to the fact they cashed out a "reserve fund" they have had since before our the bailout.

 

 

[bjm5295]

impeccable timing for Obama/the democratic party.

but really, "GM said 47,500 blue-collar workers in the U.S. will get $7,000 profit-sharing checks in March," is the best part of that article. wish it was a little more for them, but cant complain.

now bring back pontiac you sons of mothers!

 

[dajoka004]

GM is a joke. We paid for this "profit".

- Unlike Ford, GM has virtually zero bond interest expense due to fleecing bondholders/creditors of approx. $30B per Obamaruptcy.
- GM was awarded approx. $45B in loss carryovers from the "old GM" which means the new GM will not have to pay corp. income taxes for approx. 10 years thanks to Obamaruptcy, a dirty little secret that no one hardly talks about.....I thought Obama wanted more revenues from those mean corporations.
- Lastly, who would want to invest in a company whose moral character supported awarding the UAW approx. $5B, and leaving the bondholders who had invested in GM out to dry.

 

[swish 22]

"GM said 47,500 blue-collar workers in the U.S. will get $7,000 profit-sharing checks in March"

It's good news for American workers, but unions are one of the major reasons why these big car companies had problems in the first place.

 

[realrubirosa]

I contributed, too. Just bought a Cadillac... and had a Chevy before this. Both with da V8.

 

[dankenstien88]

Originally Posted by bjm5295

impeccable timing for Obama/the democratic party.

but really, "GM said 47,500 blue-collar workers in the U.S. will get $7,000 profit-sharing checks in March," is the best part of that article. wish it was a little more for them, but cant complain.

now bring back pontiac you sons of mothers!

  

 

[quik1987]

Who's buying these cars? Around my way there's nothing but imports.

 

[Ace Ready]

 

[rashi]

Without Fukishima, there isn't a "profit".

 

[useref15]

It's always good to hear positive news these days. Quite refreshing, actually.

 

[solesavage]

Originally Posted by RealRubirosa

I contributed, too. Just bought a Cadillac... and had a Chevy before this. Both with da V8.

You just made Ninjahood proud

 

[jrdnsrnss]

Originally Posted by quik1987

Who's buying these cars? Around my way there's nothing but imports.

Good thing the US is full of places that aren't around your way.

 

[finnns2003]

Originally Posted by dankenstien88

 As a Cadillac/Buick buff, this is great news ! Shoot... as an American this is great news !




 

Oh HELL yeah man, way to go taxpayer dollars! 

Who's buying these cars? Around my way there's nothing but imports.

Fleets.

 

[omgitswes]

Only buy Amurican!

 

[lfuqua3]

Originally Posted by Mangudai954

To clarify on the profits sharing im pretty sure GM isn't doing that because they want to, its most likely written into the union contract.

Yeah it's contractual. we got $1000 for every billion that they made.

 

[k2theablam]

Great news. I'm not much of an American car guy but this is certainly a welcomed headline after what we've been through the past 4 years.

 

[Bert.]

Originally Posted by Mangudai954

GM said 47,500 blue-collar workers in the U.S. will get $7,000 profit-sharing checks in March.

WOW

 

[staab89.frontenacshome]

Originally Posted by lfuqua3

Originally Posted by Mangudai954

To clarify on the profits sharing im pretty sure GM isn't doing that because they want to, its most likely written into the union contract.

Yeah it's contractual. we got $1000 for every billion that they made.

I am a GM worker too.  Local 163.
  

 

[demps]

Originally Posted by EcruteakCityBoy



Heard they're hiring more workers for a graveyard shift in Arlington , Texas

 

[lfuqua3]

Originally Posted by staab89

Originally Posted by lfuqua3

Originally Posted by Mangudai954

To clarify on the profits sharing im pretty sure GM isn't doing that because they want to, its most likely written into the union contract.

Yeah it's contractual. we got $1000 for every billion that they made.

I am a GM worker too.  Local 163.
  

1714 we build the Cruze

 

[rko2004]

Originally Posted by lfuqua3

Originally Posted by staab89

Originally Posted by lfuqua3


Yeah it's contractual. we got $1000 for every billion that they made.

I am a GM worker too.  Local 163.
  

1714 we build the Cruze

Sneak me one off the assembly line broseph.

 

[MVP]

Hoping to cop a Camaro in the next few months

 

[toy collector123]

And... this just put an end to Mitt Romney's presidential race. How you tell Detroit you wanted them to fail!

 

[mangudai954]

Originally Posted by lfuqua3

Originally Posted by Mangudai954

To clarify on the profits sharing im pretty sure GM isn't doing that because they want to, its most likely written into the union contract.

Yeah it's contractual. we got $1000 for every billion that they made.

The company im with we have a similar arrangement.

Fleets.

Hmm. Ours has increased 30% in size.

 

[rexanglorum]

Originally Posted by Toy Collector123

And... this just put an end to Mitt Romney's presidential race. How you tell Detroit you wanted them to fail!

Michigan has always been a safe State for Obama, when you spend billions upon billions of other people's money, you should be able to buy enough political support from a given region.

We still have very high unemployment, we have soaring national debts and a monetary policy that is making gasoline more and more expensive. The politically connected Unions in Detroit have done very well, at the expense of everyone else.

You may well be correct that Mitt Romney or any other nominee may be in trouble and the reason is because the media are generally pro Obama and they have defined down the notion of a "strong economy." An economy with over eight percent unemployment is labeled as "gangbusters" by MSNBC and four dollar per gallon gas is spun into "good news."