General Motors headed towards bankruptcy--Again..Forbes

[UrbanMyth]

Originally Posted by Bond James Bond

Just for the entertainment value, I thought I'd go to GM's earnings releases webpage and see just exactly how close GM is to bankruptcy. Now, if GM were headed toward bankruptcy sometime in the reasonably near future, we would expect to see a company under great stress with lots of recent earnings losses - correct? Well, let's see (links are PDF's) ...

Q2 2012: Net Income of $1.5 Billion on Revenue of $37.6 Billion
Q1 2012: Net Income of $1.0 Billion on Revenue of $37.8 Billion
Q4 2011: Net Income of $500 Million on Revenue of $38.0 Billion
Q3 2011: Net Income of $1.7 Billion on Revenue of $36.7 Billion
Q2 2011: Net Income of $2.5 Billion on Revenue of $39.4 Billion
Q1 2011: Net Income of $3.2 Billion on Revenue of $36.2 Billion
Q4 2010: Net Income of $500 Million on Revenue of $36.9 Billion
Q3 2010: Net Income of $2.0 Billion on Revenue of $34.1 Billion
Q2 2010: Net Income of $1.3 Billion on Revenue of $33.2 Billion
Q1 2010: Net Income of $900 Million on Revenue of $31.5 Billion

So, 10 straight quarters of profitability, only 3 of which were below $1 billion. Yeah, this sounds like a company headed for bankruptcy really soon!

Consider the source of this "news" and the timing. Forbes is rabidly right wing and the article was release before the election.

[cmj2k2]

GM talk aside..

What are people talking about when they say "when Europe's economy gets going"

Have u seen whats going on over there? The EU is ruining Europe's economy and until the EU is disolved I see a bleek future for the Euro economy.

[Major Deegan]

EU will not be dissolved...

[cmj2k2]

Then Europe is pretty much doomed. Big government, fiat currency and authoritarian measures are not the way to go.

[Major Deegan]

Funny thing is... A few years back, the same was said of the US and its looming collapse.

[Bond James Bond]

Time for another bankruptcy update!

Q4 2012: Net Income of $900 Million on Revenue of $39.3 billion
Q3 2012: Net income of $1.5 Billion on Revenue of $37.6 Billion
Q2 2012: Net Income of $1.5 Billion on Revenue of $37.6 Billion
Q1 2012: Net Income of $1.0 Billion on Revenue of $37.8 Billion
Q4 2011: Net Income of $500 Million on Revenue of $38.0 Billion
Q3 2011: Net Income of $1.7 Billion on Revenue of $36.7 Billion
Q2 2011: Net Income of $2.5 Billion on Revenue of $39.4 Billion
Q1 2011: Net Income of $3.2 Billion on Revenue of $36.2 Billion
Q4 2010: Net Income of $500 Million on Revenue of $36.9 Billion
Q3 2010: Net Income of $2.0 Billion on Revenue of $34.1 Billion
Q2 2010: Net Income of $1.3 Billion on Revenue of $33.2 Billion
Q1 2010: Net Income of $900 Million on Revenue of $31.5 Billion


So, 12 straight quarters of profitability, only 4 of which were below $1 billion. Yup, GM is headed for bankruptcy really soon!

[vidgms]

Originally Posted by papa_spaz

GM got over $90 billion in assets added to the business as part of the bailout. What is the market value of the company? Less than $30 billion. Care to explain how GM converted $90 billion in assets into $30 billion of market value in 3 years?



The Volt looked like such a winner too.

I know this is a few months old, but I would like to educate this fine human being on assets vs. market value.

Assets are well....assets. They don't technically add value to the company based on the market value that papa spaz here is talking about.

Market Value also called market cap, is the derived from the formula of shares outstanding x price of the share.

Anyone with anything to add to the education of this person?

Remember, it takes a village....

[Bond James Bond]

Time for yet another bankruptcy update!

Q1 2013: Net Income of $900 Million on Revenue of $36.9 Billion
Q4 2012: Net Income of $900 Million on Revenue of $39.3 billion
Q3 2012: Net income of $1.5 Billion on Revenue of $37.6 Billion
Q2 2012: Net Income of $1.5 Billion on Revenue of $37.6 Billion
Q1 2012: Net Income of $1.0 Billion on Revenue of $37.8 Billion
Q4 2011: Net Income of $500 Million on Revenue of $38.0 Billion
Q3 2011: Net Income of $1.7 Billion on Revenue of $36.7 Billion
Q2 2011: Net Income of $2.5 Billion on Revenue of $39.4 Billion
Q1 2011: Net Income of $3.2 Billion on Revenue of $36.2 Billion
Q4 2010: Net Income of $500 Million on Revenue of $36.9 Billion
Q3 2010: Net Income of $2.0 Billion on Revenue of $34.1 Billion
Q2 2010: Net Income of $1.3 Billion on Revenue of $33.2 Billion
Q1 2010: Net Income of $900 Million on Revenue of $31.5 Billion


So, 13 straight quarters of profitability, only 5 of which were below $1 billion. Yup, GM is headed for bankruptcy really soon!

[Lmichigan]

Why not let this thread die, and make a new one? Otherwise, this just seems like trolling an old post that is not conducive to discussion.

[nasa35]

more proof that socialists should just hold signs.

[hudkina]

What proof is that? GM producing profits?

[Uaarkson]

This thread is hilarious.

[desertpunk]

Originally Posted by nasa35

more proof that socialists should just hold signs.

You want to get paid back don't you? You should be celebrating these profitable quarters!

[papa_spaz]

I guess this thread title should be changed to:

Detroit headed towards bankruptcy








http://www.nationalreview.com/corner...ty-go-bankrupt

Today, the city is in such bad shape that its only option may be to go bankrupt:

http://money.cnn.com/2013/05/13/news...ent/index.html

"No one should underestimate the severity of the financial crisis,"

[sil3nc3r]

That's just the media being the media. Detroit has been insolvent for the last 20 years. Nothing new and business still producing. Do not underestimate the wealth in Detroit suburbs. It sounds rough until you look at the shear volume of people in suburbs. White flight left the city with no tax base. Nothing new

[Major Deegan]

In year 5000, only dogs and robots will be left on the Earth to recount the old stories and debate whether Man ever existed at all.