THE MAN WHO DESPISES AMERICA
Posted on 11/16/2009 4:59:20 AM PST by pieceofthepuzzle
DETROIT -- General Motors Co. on Monday reported a $1.15 billion loss on an unaudited basis for the period from July 10 to Sept. 30, providing the first evidence of the auto maker's improvement since emerging from bankruptcy protection.
(Excerpt) Read more at online.wsj.com ...
Well yea, another 500,000 lose their jobs and we’re coming out the recession.
Way to go Obama. This is the way they are going to run your healthcare too.
Hey, who is the young buffoon that Obama appiointed to run GM and the liberal media fawned all over this campaign aide/lawyer who had not done a damn thing in his life?
Repayments?
With what money?
Money that was created out of the ether, they will spend abroad but we still owe for it.
Damnest economic policy I have ever seen.
“...the liberal media fawned all over this campaign aide/lawyer who had not done a damn thing in his life?”
Apply that last sentence to many in Barry’s administration, including Teleprompter in Chief.
It’s pathetic that this is written as if GM is a privately held company. BO and his fellow socialists are running this debacle. Now they are going to payback themselves? What a farce!
More bailouts, of course!!
No American car company is a monopoly or even necessary any longer. There are way too many great choices today for any type of vehicle. If you throw in a move which angers a large number of taxpayers, (bailout of a self destroyed business) many of those taxpayers will never even consider buying another GM product, and you are history. Buh Bye. Baseball, hotdogs, apple pie and socialism?
If you would like to be added or dropped from the Michigan ping list, please freepmail me.
With what money?
From the article:
The company said it had positive managerial cash flow of $3.3 billion during the period.
Net Income is not cash flow.
Maybe he can ask China to take over GM?
I have said that after 27 GM cars I was done. But that Camaro sends shivers up my spine.......
Yeah, but was it “unexpected”?
Umm.. Maybe I’m naive, but don’t you need to make a profit before you can start paying off your debts?
Net income is an accounting measure and is not indicative of the cash flow generated by the business. Net income includes all sorts of non-cash expenses (depreciation, amortization and asset write-offs being some of the largest). The article says that GM generated over $3 billion in operating cash flow. Debt is re-payed with cash not accounting net income.
The unions gotdamoney.
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