GM reports $4.3 billion loss through last 2 quarters of 2009

[DGthe3]

Originally Posted by ssump29

What people falling to realize is that GM is on a Fiscal year not Calendar year. Meaning this doesn't mean Sept and Dec of 09, but March and June 09 as I believe their fiscal year is from July-June.

4.3B in 6 months is 4.3B in 6 months, regardless of whether you're looking at calender year or fiscal year.

[Sawyer]

I see nothing but posive steps in the right direction. And more sales when the cruze and volt hit the streets.

[Sax1031]

Lutz actually said their is a good chance GM doesn't make any real money off the Volt.

[1bad65]

Originally Posted by Sax1031

Lutz actually said their is a good chance GM doesn't make any real money off the Volt.

Toyota does not make money off the Prius.

[FenwickHockey65]

Volt isn't going to make GM any money. In fact, I've heard that several executives aren't expecting the Volt to do much at all for GM. The Cruze and subsequent products are what are important for profitability.

Pretty much, the way I see the Volt? Someone had to do it first. GM's lagged behind in some segments before, this time they're ahead of the competition. No, it won't be profitable the first year, maybe not the second year, but it'll open the door to many more opportunities using Voltec powertrains.

[ssump29]

Originally Posted by DGthe3

4.3B in 6 months is 4.3B in 6 months, regardless of whether you're looking at calender year or fiscal year.

As an accountant please don't get me started on how we go by and interupt things by the periods. We can make magic work so its important to understand why different fiscal years are implied.

[nickmccally]

Originally Posted by Sax1031

I am sure it is legit.

You have to remember the economy has sucked ass for awhile now. Especially in 2009.

Ford still pulls in a profit though. It is possible.

[chevydude26]

move down south....get rid of the uaw....that will solve a lot of problems

[Milk 1027]

Originally Posted by 1bad65

Actually there is. Companies that make decisions and fail, should have to suffer the consequences. If I screw my finances up, I don't get a bailout. Yet my middle-class self has to bail out billion dollar corporations. It's ridiculous.

Yeah, it would be absurd to have people file bankruptcy.......


oh..... wait.......

[Sax1031]

Originally Posted by nickmccally

Ford still pulls in a profit though. It is possible.

I think with Ford they just saw the writing on the wall sooner. I remember they got blasted several years back for getting a huge loan. I think they saw what was coming to be honest. While they were blasted for that decision at the time if they had not made that deal they would have went through bankruptcy also. They are still sitting pretty rough but it looks like they will pull through this time.

They also started going after concessions from the Unions before the others did and were already trying to restructure before the shit hit the fan.