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Following Ford's, Chrysler's and Toyota's profits...

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GM posts first quarterly profit since 2007

General Motors Co. posted its first profitable quarter in three years yesterday, buoyed by strong international sales, -- especially in China -- fewer incentives and cost savings realized through its bankruptcy restructuring last summer.

The automaker also said profitability in 2010 as a whole is achievable after the stronger-than-expected performance in the first three months.

"That is clearly our objective and the first quarter harkens to me that we're on the right track," said Chris Liddell, GM chief financial officer, on a conference call yesterday discussing the results.

GM said it earned US$856-million in the first three months of the year, its first quarterly profits since 2007. But management continued to remain coy about the timing of a public offering of its shares. An IPO is seen as key for the governments of the United States, Canada and Ontario to realize their US$50-billion equity interest in GM they took last summer during its Chapter 11 restructuring. More...
 

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Sam Adams was right....
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salient point right here...

...GM's results were buoyed by the US$1.2-billion in earnings before interest and tax it reaped from its international sales, including a whopping increase of 70% in China during the first quarter and an 18% improvement in Brazil. In fact, the international division is the only unit at GM that has remained profitable throughout the recession thanks to sales in those emerging markets.
These profits are largely from overseas.. not domestic sales...

Good on em' for the turn though... wish it was domestic instead of overseas..
 

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salient point right here...



These profits are largely from overseas.. not domestic sales...

Good on em' for the turn though... wish it was domestic instead of overseas..
Doesn't matter who is buying cars. There are billions more Chinese with cash that don't need $8k to help buy a car.

Still a poorly run company

When China decouples or their real estate bubble burst it's back to square one

My point was GM is no better a company than it was before
 

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RESET CONGRESS!!
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I will never buy a new GM or Chrysler vehicle.
2 reasons.
They bent over and took govt' money.
I will not incur the debt just to provide transportation that smells new.
I can do better without them.
It's a logical and practical decision.
 

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Sam Adams was right....
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Doesn't matter who is buying cars. There are billions more Chinese with cash that don't need $8k to help buy a car.
Yup.

Still a poorly run company
Never said they were poorly run...

When China decouples or their real estate bubble burst it's back to square one
CM China manufactures and sells in China... China "decoupling" most likely means they've become lees dependent on foreign trade and are becoming more domestic consumption driven. This is best exemplified in China's March trade deficit (their 1st in 6 years)... meaning they are consuming more domestically... the "decoupling" is already happening.

They also have a few distinct advantages the US does not...China has 2 Trillion dollars in cash to service their economy if they need to do so... additionally, their state-managed banking system has managed to avoid what the rest of the world has not...

I'm not a fan if China... but they have cash to service their economy (i.e. companies can actually move and make money there). All they have to do is manage, inflation and accelerate domestic consumption.... call it "stealth protectionism"... lol.

The US has declining liquid wealth in its population. I don't see GM making huge gains in the US market because of that.


My point was GM is no better a company than it was before
I never said they were "better off". I believe GM China is in a far better position than GM US... and expect it to be spun off independently sometime in the future..
 

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I'm not a fan if China... but they have cash to service their economy
Historically , the country that became the strongest globally both economically and militarily has been the country that held the most reserve currencies. Everyone has had their shot on the merry-go-round throughout history. Portuguese supremacy(1450-1530 )to the Spanish (1530-1640), the Dutch (1640-1720), the French (1720-1815), the British (1815-1920) and the US from then on. The country with the most reserve currency today by far is.. wait for it.. China. They are your new leader. Like post war America they are going to be the new consumers. That said, a dead guy can sell GM products to Chinese. I'm still unimpressed with management and I think spinning off GM China is a great ideal. Great value for those shareholders since that is the growth and revenue division and no legacy pension costs.

Never said they were poorly run...
Never said you did nor did I mean to imply it but I'll say it again.. the company is run very poorly.
 

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GM didn’t use the profits from sales of Chevys and Buicks, but, according to assistant secretary for financial stability Herbert M. Allison, Jr., “the money GM used to repay its bailout loan had come from a tax-payer financed escrow account held for the automaker at the Treasury.” (Morgenstern, NYT, May 2)
http://dailycensored.com/2010/05/13...campaign=Feed:+Dailycensored+(Daily+Censored)
Those idiots would have to pay ME to drive their garbage.
 

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Sam Adams was right....
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Historically , the country that became the strongest globally both economically and militarily has been the country that held the most reserve currencies. Everyone has had their shot on the merry-go-round throughout history. Portuguese supremacy(1450-1530 )to the Spanish (1530-1640), the Dutch (1640-1720), the French (1720-1815), the British (1815-1920) and the US from then on. The country with the most reserve currency today by far is.. wait for it.. China. They are your new leader. Like post war America they are going to be the new consumers. That said, a dead guy can sell GM products to Chinese. I'm still unimpressed with management and I think spinning off GM China is a great ideal. Great value for those shareholders since that is the growth and revenue division and no legacy pension costs.



Never said you did nor did I mean to imply it but I'll say it again.. the company is run very poorly.

totally agree with 1st point.. China is in the catbird seat..


2nd point.. no problemo... thought you were talking to me.... no worries..
 
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