GeniuSxBoY Suspended 16786 Posts user info edit post |
With 1 out of 4 homes in foreclosure, businesses doing shitty shitty, nobody except for banks are rationally making billion dollar profits, the quality of new cars is shitty shit, especially by GM... you tell me if this is bullshit or not.
Quote : | "GM reports $2B 3Q profit ahead of stock offering " |
11/10/2010 2:59:51 PM |
pilgrimshoes Suspended 63151 Posts user info edit post |
why do you think it's bullshit
if they're falsifying reporting then it's a pretty big deal
more than your tard speculation 11/10/2010 3:02:33 PM |
dyne All American 7323 Posts user info edit post |
just because quality of cars is shitty shit doesn't mean people are going to stop buying them.
you do realize that in the grand scheme of things, only a small amount of businesses are doing shitty shitty. plenty of people are still raking in the cashflow despite the economy being "down". 11/10/2010 3:05:57 PM |
GeniuSxBoY Suspended 16786 Posts user info edit post |
It's called common sense. "GM needed $50 billion in U.S. government aid to make it through bankruptcy protection last year."
It's not feasible that anyone could churn a profit when you're doing that shitty. 11/10/2010 3:05:59 PM |
dyne All American 7323 Posts user info edit post |
sure it is. clearly GM made more than they spent in the 3rd quarter of this year. what does that have to do with the bailout. 11/10/2010 3:07:33 PM |
Netstorm All American 7547 Posts user info edit post |
After a 50 billion dollar boost you find it hard to believe they're getting back in their game? 11/10/2010 3:07:50 PM |
GeniuSxBoY Suspended 16786 Posts user info edit post |
Quote : | "you do realize that in the grand scheme of things, only a small amount of businesses are doing shitty shitty. plenty of people are still raking in the cashflow despite the economy being "down"." |
actually, no. in the grand scheme of things, things are more fucked up and numbers reported are more fake than ever before. The nation is fuckin broke and if people keep buying shit that's shitty shitty, then you and the people you give a free pass to for buying shitty shit is contributing to the downfall of progress.11/10/2010 3:08:56 PM |
LRlilDaddy All American 6511 Posts user info edit post |
american cars are shit 11/10/2010 3:18:39 PM |
dyne All American 7323 Posts user info edit post |
^^ pessimistic attitudes towards the economy will only contribute to a longer recovery time. 11/10/2010 3:27:56 PM |
BobbyDigital Thots and Prayers 41777 Posts user info edit post |
GeniuSxBoY, most egregious misnomer on TWW? 11/10/2010 3:29:39 PM |
AstralEngine All American 3864 Posts user info edit post |
^^lol, I only think that stat counts for people that matter
[Edited on November 10, 2010 at 3:30 PM. Reason : ] 11/10/2010 3:30:09 PM |
BubbleBobble :3 114239 Posts user info edit post |
it's not bull shit
it's horse shit 11/10/2010 3:30:22 PM |
GeniuSxBoY Suspended 16786 Posts user info edit post |
I wasn't pessimistic 5 years ago when the Dow was 14000.
But lies lies deceit bad policy bad policy lies lies bailout lies bonus more lies will have a toll on you 11/10/2010 3:30:40 PM |
ClassicMixup All American 3877 Posts user info edit post |
^ 11/10/2010 4:23:46 PM |
BigHitSunday Dick Danger 51059 Posts user info edit post |
WTG BARACK! 11/10/2010 4:24:32 PM |
timbo All American 1003 Posts user info edit post |
They probably turned a profit from selling assets or consolidating long term pension contracts. Since they are currently private, it is impossible to know how they did it. 11/10/2010 4:30:43 PM |
BigHitSunday Dick Danger 51059 Posts user info edit post |
why cant yall just congratulate 11/10/2010 4:31:22 PM |
Kiwi All American 38546 Posts user info edit post |
I can't fuckin wait til bush jr jr gets into office and fixes this mess 11/10/2010 4:37:30 PM |
Apocalypse All American 17555 Posts user info edit post |
GeniuSxBoY, how have you suffered through the recession? Because if you haven't been doing that bad, then that invalidates your speculation. 11/10/2010 4:41:34 PM |
arcgreek All American 26690 Posts user info edit post |
I DON'T UNDERSTAND WHAT I'M TALKING ABOUT
WHY AM I MAD? 11/10/2010 4:50:02 PM |
IMStoned420 All American 15485 Posts user info edit post |
dp
[Edited on November 10, 2010 at 5:36 PM. Reason : ] 11/10/2010 5:36:18 PM |
IMStoned420 All American 15485 Posts user info edit post |
Even when GM was down, they were still selling a ton of cars. They just had expenses. Revenue < expenses. Since they were losing money, they needed bailout money because they also own their own credit issuing service (which is retarded, but another issue). I'm pretty sure they had expected income at a later period, they just needed money up front to keep from going under.
Two years later and they've massively cut expenses while maintaining decent revenue. That equals profit. They're still a huge company that does tons of sales, they just needed to trim the fat and they've done that now.
Don't you own a business? How do you not understand profit and revenue? 11/10/2010 5:36:18 PM |
GeniuSxBoY Suspended 16786 Posts user info edit post |
In 2005, before the 2007-present financial crisis, when people HAD money, this is what GM was facing:
Quote : | "The immediate problems that GM faces include a sharp decline in sales, increased competition from non-US companies, and rising material costs. It also faces increased so-called “legacy costs” associated with the pension and health care programs provided to its employees and retirees.
Sixth paragraph, http://www.wsws.org/articles/2005/mar2005/gmpr-m18.shtml " |
I find it impossible and improbable that the sales of GM products has risen to the point of $2 billion profit WHILE INSIDE our current financial crisis which is on going from 2007 to present day with the one exception of the CASH FOR CLUNKERS which immediately followed by a sharp decline in sales immediately following and has absolutely no influence on 2010 Q3 numbers.11/10/2010 10:46:26 PM |
IMStoned420 All American 15485 Posts user info edit post |
dp
[Edited on November 10, 2010 at 10:48 PM. Reason : ] 11/10/2010 10:48:44 PM |
IMStoned420 All American 15485 Posts user info edit post |
impossible and improbable you say?
[Edited on November 10, 2010 at 10:49 PM. Reason : ] 11/10/2010 10:48:44 PM |
DivaBaby19 Davidbaby19 45208 Posts user info edit post |
I don't get how you don't get this. 11/10/2010 10:52:24 PM |
JBaz All American 16764 Posts user info edit post |
lol at GeniuSxBoy for trying to bring a serious topic in chit chat and expect people to care. I will say that, Obama is a Keynesian... 11/10/2010 10:55:29 PM |
ncstatetke All American 41128 Posts user info edit post |
financially speaking, i'm doing much better right now than I was 2+ years ago 11/10/2010 10:57:51 PM |
TheBullDoza All American 7117 Posts user info edit post |
geniusboy's name is misleading :/ 11/10/2010 10:58:06 PM |
kiljadn All American 44689 Posts user info edit post |
This dude seriously has to be one of the dumbest TWW posters ever
Quote : | "Don't you own a business? How do you not understand profit and revenue?" |
11/10/2010 11:03:08 PM |
wwwebsurfer All American 10217 Posts user info edit post |
This is almost totally attributed to union renegotiation and pension payoff. If you can halve your outlay by paying off the pensioners and trim salaries and benefits to a reasonable level you can easily turn a profit.
Pair that with a $50b infusion to do it with and pour into engineering and design and you're in GOOD shape. And if I remember correctly since the loan they're paid back like 12-15b and are handing the rest over in stock shares to the government.
Also, why do people still think/assume american made cars are horribly inferior? Almost half of the JD power "most-reliable" top 20 are american made. Those numbers are based on long-term reliability studies, not just some knee jerk rating based on numbers.
Quote : | "Top-five finishers Lincoln and Mercury are owned by Ford Motor Co., while Buick is owned by General Motors Co. The Cadillac DTS full-sized sedan, which is sold by GM, was named highest-quality car overall.
"The domestics are moving a little bit faster catching up," Sargent said.
Toyota, whose reputation has come under scrutiny in the face of massive recalls, fell two spots from its third-place standing last year. While average vehicle quality across the industry improved from last year's survey, Toyota's quality score fell slightly." |
http://www.mlive.com/auto/index.ssf/2010/03/porsche_lincoln_top_jd_power_d.html11/10/2010 11:36:39 PM |
elduderino All American 4343 Posts user info edit post |
Quote : | "This dude seriously has to be one of the dumbest TWW posters ever" |
Easily. It's like he's got a direct line to my facepalm reaction.11/11/2010 12:50:34 AM |
HockeyRoman All American 11811 Posts user info edit post |
But according to him UV rays contribute to a warming atmosphere! 11/11/2010 1:18:43 AM |