But they’re close.
GM announced a 2007 loss of $38,700,000,000.
-$38.7 billion dollars.
Back when the union was on strike they claimed to just want compensation for their contribution to the company’s success. Does compensation for contributing to a negative success mean they were asking for a pay cut?
ugh not this dead horse again!
lol get rid of the unions, get rid of at least 2 ‘companies’, buick for one…
and get rid of a quarter of their 34093874 different car lines…
They could easy merge Pontiac and Chevy as well…
oh well they will never go away, just file for bankruptcy and somehow start again.
now i know that is a lot of loss but what is the norm groth income of GM??
GM offers all U.S. union workers buyouts, retirement
http://biz.yahoo.com/rb/080212/gm_buyouts.html?.v=1
Also, I love random one time events that change investors minds.
Shares of General Motors reversed course in pre-market trading Tuesday after enthusiasm about what looked like a surprise profit waned when the chief exeuctive said it was unlikely analysts knew about a one-time tax benefit
don’t let that mislead you. That loss is 99% attributable to the write off of impaired deferred tax assets, which is a one time charge that has exceedingly little to do with the profitability of operations. I think they had like a $23million loss, which means that $38.47billion was attributable to the write off of the deferred tax assets and other one time charges.
now, if that loss were attributable to operational factors, then i would say that GM is in trouble.
Word? Their operating loss was only 23 million?
hahaha right?
Shouldn’t they still be turning a profit though?
Isn’t that the point of a business? Especially a large one?
a $23million loss for GM is just barely material to analysts, investors, and readers of financial statements in terms of GM’s total annual sales and balance sheet. given the sudden downturn in the economy during the latter part of 2007, I am actually surprised that their losses from operations weren’t more substantial.
When are they going to realize they really need a good mid sized crossover SUV? Something to compete with the Ford Edge, which Ford is selling a ton of.
Equinox = too small, and Acadia = too big.
Its sad to see a huge american company come to this and just when they are starting to turn out a cooler line of cars than they have in years.
Read everything below this line and then reevaluate your reply.
Losses are losses and that means jobs are going bye bye.
The huge losses from GMAC rescap also hit GM hard. GM was used to huge cash dividends from GMAC and now they take a huge loss (granted at 49%).
Here’s a much better article:
“GM generated $181 billion in revenue in 2007”
GM is actually in pretty good shape.
Loss means they made that much less than last year.
Then fuck them!!!
Like everyone else said, a one-time blow to ensure long-term financial viability. For those of you that don’t get it, this is the cut from surgery to repair a chronic problem.
And GMC, Buick, and Pontiac practially are one line. The vast majority of the dealers sell all 3 of them now, and between them they fill out one full product line. It’s not really costing them that much more to maintain them; it’s not like they have seperate, independent executive teams, manufacturing facilities, etc. for every branch.
