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Originally Posted by 8cd03gro
Uh, didn't GM post a $4.X billion USD loss in the last quarter of 2009? How is it even possible that they could think about paying back? Sounds like publicity crap to me. They said they will "could" break even this year. How can you pay off loans when you post losses consecutively and think you MIGHT break even this year?
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Last I checked we're in the 2nd quarter of 2010 and they were doing pretty well in Q1 2010.
And look at what was happening in the latter half of 2009. Q3 sales were generally still garbage and they just went through their bankrupcty. While Q4 showed improvement, they also payed $2.6B to the UAW as part of their healthcare restructuring plan (which goes into effect this year and will save them billions each and every year), $1.2B was payed back on their loans, and $1.6B was a "foreign currency re-measurement loss." So they had $5.4B lost in big, rare expenses and a total loss of $4.3B.
But perhaps you're right. GM is just spending money they don't have as a PR stunt.