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Topic:
General Motors Unveils Record Profits For 2011 [Locked] |
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
http://www.bbc.co.uk/news/business-17062698
Quote:
posted: The firm made a profit of $7.6bn (£4.85bn) over the year, up 62% from 2010.
However, it lost $700m in Europe, which includes its UK Vauxhall plants in Ellesmere Port and Luton, and made a $100m loss in South America.
The firm, which faced bankruptcy two years ago, saw sales rise 7.6% last year to more than 9 million vehicles.
Where is the taxpayer's cut?
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Ashmaele  Title: Pastor of Muppets
Posts: 1,809
Registered: 2002-1-15 08:30:50
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
I think they paid back their bailout money.
It's a good thing we didn't let them go under.
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I had a dream. It was an incredible dream. When I awoke, I had a huge mess to clean up.
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Grymlo  Posts: 415
Registered: 2002-4-30 05:51:06
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
NEW YORK (CNNMoney) -- Including the $1.3 billion loss on its Chrysler investment, announced Thursday, the United States government has lost about $14 billion on the auto industry bail-out
yep 
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
Grymlo posted:
NEW YORK (CNNMoney) -- Including the $1.3 billion loss on its Chrysler investment, announced Thursday, the United States government has lost about $14 billion on the auto industry bail-out
yep
I wonder how they calculate that loss. Does the loss include the economic backlash that could result from GM et. al. going under?
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I radiate more heat than light.
I know what you're trying to do but you're just sailing another failboat over the falls. - imaloon1
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Grymlo Posts: 415
Registered: 2002-4-30 05:51:06
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
Then let them go under. Its a private business and the gubmint had to right to get involved with taxpayer money to begin with. Someone else would end up filling the void anyways
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A Nation of Sheep Breeds a Government of Wolves!
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Ashmaele Title: Pastor of Muppets
Posts: 1,809
Registered: 2002-1-15 08:30:50
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
Eager_Igraine posted:
Grymlo posted:
NEW YORK (CNNMoney) -- Including the $1.3 billion loss on its Chrysler investment, announced Thursday, the United States government has lost about $14 billion on the auto industry bail-out
yep
I wonder how they calculate that loss. Does the loss include the economic backlash that could result from GM et. al. going under?
I would guess that they are comparing whole dollars and completely discounting the potential loss in tax revenues etc.
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I had a dream. It was an incredible dream. When I awoke, I had a huge mess to clean up.
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ZigmundZag Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
http://money.cnn.com/2012/02/16/news/companies/gm_bailout/
GM still owes the gubmint 25.5 billion, but we're holding about 13 billion worth of their stock.
IMHO all dividends should be going to the treasury until that debt is repaid in full.
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Ashmaele Title: Pastor of Muppets
Posts: 1,809
Registered: 2002-1-15 08:30:50
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
Grymlo posted:
Then let them go under. Its a private business and the gubmint had to right to get involved with taxpayer money to begin with. Someone else would end up filling the void anyways
Wouldn't it be nice if this logic were applied uniformly? As it is now, right-leaning industries seem to have no problem whatsoever accepting government subsidies to the tune of billions every year, yet we are somehow anally raping the corpse of Founding Father Milton Friedman when we bail out Big Car.`
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I had a dream. It was an incredible dream. When I awoke, I had a huge mess to clean up.
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
Does that include the sales tax on the 9 million sold? Or the tax on the workers paychecks? Or the taxes on the supplies to build the cars? How about not having to pay unemployment, welfare, food stamps, etc...?
Sounds like that can add up to 14 billion pretty easily, and that's just one company. Seems to me it was in the countries best interest to maintain a lucrative manufacturer afloat.
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Thugoneous Title: Watching Caliente, BRB.
Posts: 1,128
Registered: 2002-11-2 18:00:54
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Date Posted:
1/1/00 12:00am
Subject:
General Motors Unveils Record Profits For 2011 |
If you're talking about banks they should have gone under too.
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