GM CEO promises profit on Federal Investment

[Mr. Wyndham]

Originally Posted by Russo

this thread is full of humor...

Tell me about it.


Clearly, the naysayers didn't take into account a few tidbits in there.

Namely, they've already paid back $1 billion of the 6bil. in debt they still owe the treasury. WELL before it was ever "planned" to happen. The books may not show profit, but that's a LOT of money, and it has to come from somewhere...which means they are bringing in money they can spend.

They are very confident in themselves and the treasury's willingness to sell the shares, and sell them at a profit. This is not new, but it's a re-statement of a sadly all-too-common chicken-little belief that the treasury will try to "hold on" to GM. They won't. What they're going to do, is methodically release ownership a little bit at a time so as not to upset the stock value. At the same time, the public will be allowed to purchase stock in GM, lowering the treasury's percentage stake and bringing GM back "into the light".

AND...though nothing is ever 100% certain -- all legitimate, involved parties have a positive attitude about this. Attitude is everything, even when it comes to money.

[1bad65]

Originally Posted by DGthe3

Before the renegotiated wages and benefits with the UAW, when the new car market wasn't garbage, and they had billions more in debt.

When did GM become a democratic country?

Can you please give me a year? I honestly do not know, and I figure someone here knows the answer.

First off, we all know GM could not have sold Hummer to China without Government approval. Second, as someone else pointed out, if you don't think our government is selling itself (and anything else) to China, you haven't been paying attention.

[BigRigMike]

Originally Posted by 1bad65

Can you please give me a year? I honestly do not know, and I figure someone here knows the answer.

http://quicktake.morningstar.com/sto...=USA&Symbol=GM

2004 was the last profitable year and then you can see the decline from there.

[The_Blur]

Originally Posted by coolman

Well you need to start paying attention because it's happening everyday as we speak.

I pay attention. Do you think an expert on foreign policy and comparative government doesn't know what's going on in the world?

Originally Posted by 1bad65

GM sold Hummer to China.

Technically, AM General still manufactures them. Only the name is a GM property, so all GM does is sell Hummers, not produce them. It's more complicated than selling the property to China. It's just a name.

Originally Posted by DGthe3

When did GM become a democratic country?

That is so true.