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International Business keeps GM afloat, barely
Foxnews.com ^ | 2-12-08 | Ken Sweet

Posted on 02/12/2008 4:11:26 PM PST by mombyprofession

New York -- If General Motors didn't make a vehicle in North America, or didn't have a union-backed work force in the U.S., it might be one of Wall Street's golden children. GM's international divisions continue to keep the automaker afloat, as its U.S. sales remain stagnant and its profitability continues to be overburdened by the health care and pension costs of an aging workforce, analysts said.

"GM's results show that, despite progress and buoyant markets outside the U.S., falling volumes and competitive pressures in the U.S. will continue to pressure General Motors North America and hence, overall GM operational results," said Lehman Brothers automotive analyst Brian Johnson in a note.

Including special items, GM said it lost $722 million, or $1.28 a share, in the fourth quarter of 2007 compared to a profit of $950 million, or $1.68 a share, a year ago.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Business/Economy; US: Michigan
KEYWORDS: economy; union

1 posted on 02/12/2008 4:11:29 PM PST by mombyprofession
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To: mombyprofession
I'm doing my part domestically.
2 posted on 02/12/2008 4:13:58 PM PST by Jeff Head (Freedom is not free...never has been, never will be. (www.dragonsfuryseries.com))
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To: Jeff Head
Love my 2003 LaSabre. Gets 29.9 mpg highway, big, roomy, good riding, and essentially problem free.Wish I could buy another. When I get to 250K miles, I will get a long bed Chevy or GMC pickup. Or maybe a Mustang or a Challenger or a Camaro. Dang I not sure but I may be conflicted.
3 posted on 02/12/2008 4:31:00 PM PST by Nuc1 (NUC1 Sub pusher SSN 668 (Liberals Aren't Patriots))
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To: Nuc1

I=I’m


4 posted on 02/12/2008 4:32:45 PM PST by Nuc1 (NUC1 Sub pusher SSN 668 (Liberals Aren't Patriots))
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To: mombyprofession

I rented a GMC Envoy for my sister’s wedding a few weeks ago, and it has quite effectively reduced my disdain for GM products from “profound and unmitigated” to “not so bad”. Then I got a look at the sticker and nearly gave birth to a 350 lb canary!

I’ll stick with my current rides for now. A bus, a REAL 4X4, a 4 door sedan, and a small 250 cc commuter scooter. I wanted to buy a really cool 1967 fire truck, but I had to resist, as the house needs more attention than I need a new toy.


5 posted on 02/12/2008 7:58:06 PM PST by Don W (Vote YOUR Honor, or it could become: Vote, your Honor.....)
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To: Don W

What kind of 250 scooter do you have? I have been thinking of getting one to putt to work.


6 posted on 02/12/2008 8:11:12 PM PST by Lionround (This comment is brought to you by the letter "E")
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To: mombyprofession
With the UAW allowing the people being bought out to be replaced at 1/2 the wages, the higher competitive quality ratings, and especially the high mileage 2-mode hybrid powertrain (especially on the SUV's and pickup trucks*), I only wish I had some spare cash to buy some GM stock.

*See "Motor Trend" for very positive reviews

7 posted on 02/12/2008 8:23:33 PM PST by LZ_Bayonet (There's Always Something.............And there's always something worse!)
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To: Lionround
Honda Helix.

Not the best shot, but gives you a good idea. While it's NOT a real rocket ship, it has PLENTY for the ride to work.

8 posted on 02/12/2008 11:08:03 PM PST by Don W (Vote YOUR Honor, or it could become: Vote, your Honor.....)
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