Back in the black
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Back in the black
Bad news for all the haters.
"General Motors reports quarterly profit
Costs cut through big restructuring; first profit since early 2006
DETROIT - General Motors Corp. reported a net profit on Wednesday of $950 million for the fourth quarter of 2006 due to cost cuts, higher automotive revenues and a gain on the sale of its finance division.
It was the automaker
"General Motors reports quarterly profit
Costs cut through big restructuring; first profit since early 2006
DETROIT - General Motors Corp. reported a net profit on Wednesday of $950 million for the fourth quarter of 2006 due to cost cuts, higher automotive revenues and a gain on the sale of its finance division.
It was the automaker
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From: MAHT-O-MEDI
[quote name='candyass' date='Mar 14 2007, 12:41 PM'] DETROIT - General Motors Corp. reported a net profit on Wednesday of $950 million for the fourth quarter of 2006 due to BLAHBITY BLAH AND the sale of its finance division.
Chief Financial Officer Fritz Henderson said despite the fourth-quarter profit, no one at GM is declaring victory over the company
Chief Financial Officer Fritz Henderson said despite the fourth-quarter profit, no one at GM is declaring victory over the company
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From: WA?
$770 million from the sale of their finance division.
And..?
GM is still on the downward spiral. Ford is falling faster and god knows what the future of Chrysler is.
They need to replace those stubborn 60 year old executives and put in some Wal-mart / Google executives.
And..?
GM is still on the downward spiral. Ford is falling faster and god knows what the future of Chrysler is.
They need to replace those stubborn 60 year old executives and put in some Wal-mart / Google executives.
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From: Arlington Heights, IL
Originally Posted by candyass' date='Mar 14 2007, 02:34 PM
128 mil profit or $.32 per share.
The results excluding items fell short of Wall Street expectations for the quarter. A dozen analysts polled by Thomson Financial predicted earnings of $1.19 per share excluding special items."
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Originally Posted by vader1' date='Mar 14 2007, 12:59 PM
Let me snip a couple lines from the article and you can re-read.
Good for them but seriously, gas has not hit $3 yet in most markets so it might be a couple months before the profitable truck sales tank.
I like what they have done so far but this is not earthshattering news.
Good for them but seriously, gas has not hit $3 yet in most markets so it might be a couple months before the profitable truck sales tank.
I like what they have done so far but this is not earthshattering news.
It is earth shattering news if you believed the "GM is going bankrupt" crew that post here. It is not huge but, it is certainly a good start at getting back on track for the worlds largest auto manufacturer.