Profit!!
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From: Albany, NY
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From: Sterling Heights, MI
To temper the enthusiasm, GM is still losing money in North America, and most of this profit came from one-time transactions. GM considered itself much better off after losing $2B in 2006. Yuck.
Hopefully this modest 1st quarter profit is just the first in a long string.
Hopefully this modest 1st quarter profit is just the first in a long string.
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Joined: Jun 2001
Posts: 169
From: Calgary, AB, Canada
To temper the enthusiasm, GM is still losing money in North America, and most of this profit came from one-time transactions. GM considered itself much better off after losing $2B in 2006. Yuck.
Hopefully this modest 1st quarter profit is just the first in a long string.
Hopefully this modest 1st quarter profit is just the first in a long string.
Registered User
Joined: Aug 2000
Posts: 6,165
From: Sterling Heights, MI
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To temper the enthusiasm, GM is still losing money in North America, and most of this profit came from one-time transactions. GM considered itself much better off after losing $2B in 2006. Yuck.
Hopefully this modest 1st quarter profit is just the first in a long string.
Hopefully this modest 1st quarter profit is just the first in a long string.
As far as I can tell, this Fourth Quarter result doesn't include the looming issue form GM's sale of GMAC - with the way the sub-prime lemding market is shaping up that could really be a kick in the teeth for GM sometime later this spring/summer.
What this does show is that GM is doing better than Ford or DCX!
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From: Sterling Heights, MI
Originally Posted by Robert_Nashville
As far as I can tell, this Fourth Quarter result doesn't include the looming issue form GM's sale of GMAC
The fourth-quarter results included $770 million in special items attributed to the sale of a 51% stake in GM's financial arm, General Motors Acceptance Corp. But the Detroit company said it would have made $180 million in the quarter without the GMAC sale proceeds.
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Related but not the same thing.
GM's revenue form the sale of GMAC included an agreed upon/assumed value of GMAC's loan portofilo value but with the recent increase in foreclosures/defaults the actual value is decresing and GM is on the hook to make that up. To the best of my knowledge, that issue has not be setteled yet.
GM's revenue form the sale of GMAC included an agreed upon/assumed value of GMAC's loan portofilo value but with the recent increase in foreclosures/defaults the actual value is decresing and GM is on the hook to make that up. To the best of my knowledge, that issue has not be setteled yet.
