GM Falls Below IPO Price as Rising Oil Dims Truck Sales Outlook

Business Week ^ | 02/24/2011 | Craig Trudell and David Welch

[Jack of all Trades]

Time to start packaging up some kind of fuel saving gizmo to sell on ebay...

[kittymyrib]

Government Motors has a pretty good chance of making that paper profit because BO’s IRS gave it a pass on paying any taxes this year. Wonder if all those bonused UAW union hacks have gotten a pass, too?

[artificial intelligence]

The market does not seem to care - was down 100 but now back 85

[dimk]

Pure hilarity, suv/truck sales projections wrong again?

[de.rm]

...same truck, better quality, better MPG, much better.

[Benchim]

I personally hate Government Motors and their unions and I wouldn’t buy a new GM product under any circumstances ever again. Their stock can tank as far as I’m concerned.

[Red Badger]

personal property taxes ?

[Red Badger]

They’re too big to fail!...........again..................

[EyeGuy]

“Time to start packaging up some kind of fuel saving gizmo to sell on ebay...”

####

How about a soy paper sail the hippies can stick on top of their microwatt, wheeled coffins?

Just call it “Green” and the clueless dumbasses will fill your PayPal account.

[Frantzie]

GM makes garbage.

[EyeGuy]

“GM, which screwed it’s bond holders royally...”

####

I’ll never understand how that historically unprecedented bit of Commie criminality, did not irreparably shake the public’s confidence in the financial markets.

Oh wait...

[Zakeet]

General Motors Co. fell to the lowest since its initial public offering in November as rising oil prices dimmed the outlook for truck sales after the largest U.S. automaker’s most profitable year since 1999.

Wrong!

Grievous Mistake is in the toilet because they are a terribly mismanaged fiasco.

Of course GM is showing an improved bottom line. They wrote off massive amounts of debts, fixed assets and intangibles ... slashing interest, depreciation and amortization expenses. Even a retarded community organizer parading as a car czar could show some financial improvement ... for a little while.

Look deeper and you will find sales driven by units foisted onto dealers (whose inventories are ballooning), and by zero down credit sales to customers. In other words, GM's much ballyhooed revenue improvement is nothing more dumping product on intermediaries in hopes these vendors can give it away using government subsidized low interest loans.

Looking ahead, GM is betting its future success on a grossly overpriced electric golf cart keeping unions placated with massive payments of cash, and continued cheap financing courtesy of federal largesse. This absurd.

GM will eventually die, probably within the decade, but it will have little to do with increases in the price of fuel, and almost everything to do with continued incompetence by individuals in leadership positions.

[GeorgeTex]

Some states base your registration fees on the value of your vehicle. Pepole with more expensive rides pay more to register their car. This operates much like a property tax on a car.

[Jack of all Trades]

Something like that...

[RckyRaCoCo]

I bought one of their Dexcool-gasket-eating pieces of garbage....never again.

[Red Badger]

Egads! what state do you live in? Here in Florida we have registration and that’s it. My 2002 Dodge Ram plate is around $100 IIRC. How can people afford taxes like that?...................

[brownsfan]

“I bought one of their Dexcool-gasket-eating pieces of garbage....never again.”

I used to be a huge GM fan. But the cars got progressively worse. My last GM was a 2002 Pontiac Bonneville. I thought, high end Pontiac, should be a nice ride. It drove great, great engine, lots of power, I loved it for about a month. Constant little failures. Got so bad I traded it on an 05 Camry. Now the Camry is about as dull as dishwater to drive, but reliablity? Awesome. I never knew owning a car could be so simple. Gas - routine maintenance - go.

I’ve since traded the 05 Camry on an 08 Acura TL. The Acura is everything the Bonneville should have been. Sporty, nice ride, good power, good handling, fun to drive, and reliable.

Screw you GM.

[Georgia Girl 2]

“Egads! what state do you live in? Here in Florida we have registration and that’s it. My 2002 Dodge Ram plate is around $100 IIRC. How can people afford taxes like that?...................”

In GA they euphemistically call it the Ad Valorum Tax. My 2011 tag for a 2006 Honda CRV was $272.00. I remember the good old days in Fla when it was about $28.00.

[painter]

Ford is making more money than GM and their stock is $14 a share.Anyone who would pay more than that for GM stock is a fool.