"As expected, General Motors posted horrendous 4th quarter numbers this morning with the company losing $9.6 Billion. For all of 2008 GM lost $30.9 Billion making it one of the worst years ever for the auto maker. How bad was it?
Every day last year GM lost $84.7 million."
What is funny is the market really didn’t react to the number so I guess this is just expected now.
someone clarify this for me.
are they actually losing real dollars?
or is this something like a comparison to what they made the year before?
Pretty sure it means GM basically took about 85 million dollars a day and flushed it down the toilet.
Actually, that would clog a toilet. Lets say they just set it on fire.
EDIT:
Better yet, since the government is bailing them out, think of it as one of the most expensive public works projects in the history of the world.
GM seriously just needs to go under already. I am not talking on a permanent basis either, but they need to completely rebuild the company. /ofstory.
i cant wrap my head around $84 million/ day loss.
Something in between. It means their book expenses were greater than their book income by that amount. While they definitely lost money, some of that figure can be attributed to other things.
Me either. I just vote let them fail.
Something isn’t being run right if you are loosing 84 million a day.
My gf and I are heading out shortly to go finalize the paperwork on the new GM she’s buying, doing our part to help save GM :tup:
Only a matter of time till chapter 11, bailout money or not.
Have fun with your horribly depreciated bucket in a few years.
And I am not ragging on you for what you are doing, but I don’t think it’s in your best interest.
That’d be like me saying I am voting green party or something…
They spent 30.9 billion dollars more than they made last year.
wow is all I can say. I didnt believe the math, 31 billion is nutz especially when broken down into 85 million a day for a year. Im suprised GM isnt giving away cars yet. I havent seen any commericials or anything for 0% financing or big rebates.
THe crazy depreciations that people post are off of sticker price. The main reason for it is that they give so much off the new cars. When you buy a 30k sticker car for 21k and its worth 15k in 2 years, people bitch that that’s 50% depreciation and its horrible, but it’s actually better than the 30k import that’s now worth 23, but you actually paid 30 for it.
We don’t use logic like this on nyspeed, just read the r32 thread.
My duramax is 2003 was 45 grand, a new 1 today with more options is way less after the rebates. My truck only has 23,000 miles and aint worth shit! Thanx gm you losers! Oh and in this rant i can say your trucks may have power and can tow anything but are built like shit!
ugh here we go again.
GM needs a major overhaul, someone was sleeping at the switch. We all know this.
Here’s to another long GM hate thread where the same shit is said over and over :tup:
:picard:
What are they doing, giving away cars? If we assume their average sale price should be $30,000, that’s almost 3,000 cars-worth of profits per day that they’re losing.
:banghead:
Had to rant, go to start my silverado today and my window reg took a shit again, 3rd time 23,000 miles. I love the quality. The new reg is like 75 dollars more then the resale value!
i priced out a 35,000 dollar brand new silverado at paddock out the door i could get into it for 23000. Losing there asses on sales. The best part was the guy who came there on a test drive with a new tundra and left after looking at the silverado for less then 2 min lol.
And here we go with the GM hate…
Wake me up when the thread is over…