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Re: US Auto Industry [Re: gettinjiggywithit]
    #9206962 -

gettinjiggywithit said:
Bring back the freaking Electric car already. I would buy the GM EV1 as soon as they hit the floor.



they have one in R&D Scheduled for release in 2010, that cost
senseless billions considering that they already had one on
the market, the EV1 was a lease system, only Georgia Power
employees got them here... seems a little retarded


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California Has Legalized Child Prostitution

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Re: US Auto Industry [Re: Prisoner#1]
    #9206996 -

What the fuck are you talking about?

From GMs most recent income statement, which I provided a direct link to:

for three months ended Jun. 08, amounts in millions:
Total net sales and revenue 38,156
Automotive cost of sales 43,546 (not R&D - it costs more to make a car than they can sell it for)
Total costs and expenses  50,632 (includes SG&A, etc.)
Operating income (loss) (12,476 )
other items....
Net income (loss) (15,471 )

They lost $15 billion in 3 months, mainly because it costs them more to make a car than they can sell it for. This is not simply reduced revenue, and if you'd done even the most cursory research you'd know it - you're making totally false claims where the facts are super-easy to look up - just look at Google Finance or Yahoo Finance and you can see the top and bottom line numbers.

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Re: US Auto Industry [Re: phi1618]
    #9207007 -

phi1618 said:
the bailout of troubled institutions should be 1)not done until the financial system is actively threatened, 2) not voluntary, 3) involve the removal of management and the punitive dilution of shareholders.


bailout of troubled financial institutions shouldnt be done
at all, they understand full well the risks as do the
shareholders, did anyone get bailed out when the dotcom
bubble burst? do small banks get bailouts?

remember the S&L 'crisis' that cost tax payers billions in
the 80'S, seems all of these issues were addressed then

http://en.wikipedia.org/wiki/Savings_and_loan_crisis#Financial_Institutions_Reform.2C_Recovery.2C_and_Enforcement_Act_of_1989


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Re: US Auto Industry [Re: phi1618]
    #9207030 -

phi1618 said:
They lost $15 billion in 3 months, mainly because it costs them more to make a car than they can sell it for.



they buried billions in R&D last year alone and the cars dont
cost more to produce than they make off of them, simply
because they kept producing at a time when sales were
slumping shows the inept management, continued production of
high end vehicles


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Re: US Auto Industry [Re: Prisoner#1]
    #9207131 -

Quote:
they buried billions in R&D last year alone


Looking at GM again, SG&A totaled 3.7 billion in the quarter ended Jun 08, compared with a 15 billion loss. I didn't see a specific break-out of R&D, but depreciation and amortization was over 1 billion of that and there are other expenses, like management salaries and marketing campaigns, included in that figure. It might be in the 10-Q (or 10-K) someplace, but I'm not going to track it down right now.
Quote:
the cars dont
cost more to produce than they make off of them


Their cost of sales exceeded their revenue from sales by over $5 billion. Of course, I agree it was bad management that caused them to have a ton of high-end SUVs right when they went out of style, but they still lost money on each sale, before paying management salaries, paying for marketing campaigns, depreciation and amortization, research and development, or any of the other necessary expenses of business.


Anyway, this is all beside the point:
They are losing money, and will soon (within a few years) go bk without help. If you want to know where the money's going, they are a publicly traded company and file all the requisite forms with the SEC.

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Re: US Auto Industry [Re: phi1618]
    #9207264 -

phi1618 said:
They are losing money, and will soon (within a few years) go bk without help.



consider also their other markets, they do poorly in
germanany and north america, everywhere else they're doing
well, they also own 49% of GMAC, and as you may not know,
they lost their ass in the mortgage market recently

but they're being bailed out on that deal


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Re: US Auto Industry [Re: Prisoner#1]
    #9207294 -

http://www.fool.com/investing/value/2007/08/02/gms-profit-makes-you-go-hmm.aspx

http://money.cnn.com/2008/02/12/news/companies/gm/


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Re: US Auto Industry [Re: Prisoner#1]
    #9207334 -

Prisoner#1 said:
phi1618 said:
They are losing money, and will soon (within a few years) go bk without help.



consider also their other markets, they do poorly in
germanany and north america, everywhere else they're doing
well, they also own 49% of GMAC, and as you may not know,
they lost their ass in the mortgage market recently

but they're being bailed out on that deal


I know this. Their losses, as you can see from their recent filings, are related primarily to their car manufacturing business.

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Re: US Auto Industry [Re: Prisoner#1]
    #9207350 -

Prisoner#1 said:
http://www.fool.com/investing/value/2007/08/02/gms-profit-makes-you-go-hmm.aspx

http://money.cnn.com/2008/02/12/news/companies/gm/


What is the point of these links? The first one is old, and they lost money last year even with one profitable quarter. The second one is about trying to reduce their workforce.

What are we even discussing? Why are you linking to media  articles and blog posts when there are SEC filings that contain exactly the data we're talking about?

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General Interest > Political Discussion
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