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GM posts $9.6B 4Q loss, burns through $6.2B cash
Old 02-26-2009, 07:23 AM   #1
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GM posts $9.6B 4Q loss, burns through $6.2B cash

The nation's biggest domestic automaker said Thursday it lost $30.9 billion for the full year and expects an opinion from its auditors as to whether the company remains a "going concern" when its annual report is issued in March. That means the auditors will determine whether there is substantial doubt about the automaker's ability to continue operations.
GM posts $9.6B 4Q loss, burns through $6.2B cash - Yahoo! Finance

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Old 02-26-2009, 09:47 PM   #2
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Let them fail. No amount of cash infusion is going to save gm. They don't get it, people do not want to buy their cars. Me included.
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Old 02-26-2009, 11:17 PM   #3
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GM is finished and we should have seen that Before the money was infused. Just a waste I say. If the auditors reveal that kind of loss just now, GM knew it and so did the gov't before the "bailout" Ha, Ha. That's just the way to waste tax payers' mney
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Old 02-27-2009, 04:40 AM   #4
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Hey, they had to have the infusion of money as the "golden parachutes" (they will call them something else as the term is no longer PC) have to be paid/collected/ripped off for all the honchos as they leave.
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Old 02-27-2009, 08:49 AM   #5
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Let them fail. No amount of cash infusion is going to save gm.
Quite possibly...

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...people do not want to buy their cars...
How many times must I refute this assertion? Please look at their sales v. other auto companies, then check back.
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Old 02-27-2009, 09:10 AM   #6
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What does this mean for NASCAR? I know that they will continue to sponsor but I suspect that NASCAR has peaked for the time being.
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Old 02-27-2009, 09:23 AM   #7
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Hey, they had to have the infusion of money as the "golden parachutes" (they will call them something else as the term is no longer PC) have to be paid/collected/ripped off for all the honchos as they leave.
It is too bad that there is so much power at the upper levels that taxpayers' money can be donated to a failing powerful company who knew all along that their operations would sooner or later fail. Inspite of declining sales figures, the nonsense continued. As long as the upper management and highly paid workers could continue drawing paychecks thus driving the company into the ground. Hey but the big guys did not develop GM and pulled down big bucks long enough that they are set for life. You don't see them infusing the company with their money to keep it going and for that matter the stock holders (owners) aren't either.
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Old 02-27-2009, 09:43 AM   #8
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...and so did the gov't before the "bailout" Ha, Ha. That's just the way to waste tax payers' mney
I don't think Washington DC sees it as a "waste of money". They bought a lot of votes with that (our) money.

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Old 02-27-2009, 09:56 AM   #9
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I don't think Washington DC sees it as a "waste of money". They bought a lot of votes with that (our) money.

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Why yes they did!
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Old 02-27-2009, 10:07 PM   #10
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Quite possibly...



How many times must I refute this assertion? Please look at their sales v. other auto companies, then check back.
What? Toyota just over took them (GM), their vehicles are not selling here in the US, IMO anyone who buys a domestic is a fool, when you can get reliability, style and much much better resale in a Honda or a Toyota. It is all about getting the best item for my hard earned dollars and the diminishing used to be big 3 don't come close. Have you driven a Honda lately? That is all I have owned since '88 and there is no going back. I have driven US domestic, i.e., company cars and they don't hold a candle to a Honda or Toyota.
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Old 02-27-2009, 10:56 PM   #11
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What? Toyota just over took them (GM), their vehicles are not selling here in the US, IMO anyone who buys a domestic is a fool, when you can get reliability, style and much much better resale in a Honda or a Toyota. It is all about getting the best item for my hard earned dollars and the diminishing used to be big 3 don't come close. Have you driven a Honda lately? That is all I have owned since '88 and there is no going back. I have driven US domestic, i.e., company cars and they don't hold a candle to a Honda or Toyota.
HFWR did not ask you whether *you* liked their cars or not. He said "Please look at their sales v. other auto companies, then check back."

So, do have sales figures? I'd like to see them myself.

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Old 02-27-2009, 11:07 PM   #12
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HFWR did not ask you whether *you* liked their cars or not. He said "Please look at their sales v. other auto companies, then check back."

So, do have sales figures? I'd like to see them myself.

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Head over to New Car Reviews, Ratings & Pricing, Auto News for New Models – TTAC - they post updated sales numbers for all of the mfgs. Everyone is getting the beatdown, Chrysler by far the worst, which stands to reason considering their product offerings.
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Old 02-27-2009, 11:31 PM   #13
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GM's biggest problem is not sales per-se. It is that they can't make money on smaller vehicles.
Combine this with the recession and earlier $4 gas prices and they are hurting big time.
I don't see though, how they can start making money on small cars without major restructuring of their agreements with retirees and employees without going into chapter 11. Until those agreements are restructured, throwing money at them is a waste.
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Old 02-28-2009, 08:47 AM   #14
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I do not have sales figures at my disposal, however, if you google you will come up with a wealth of articles. Anyone who does not realize that gm is in the toliet has been living on another planet or hiding under a rock. It is amazing to me that there are still gm cheerleaders out there.
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Old 02-28-2009, 10:20 AM   #15
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I do not have sales figures at my disposal, however, if you google you will come up with a wealth of articles. Anyone who does not realize that gm is in the toliet has been living on another planet or hiding under a rock. It is amazing to me that there are still gm cheerleaders out there.
I am not a GM cheerleader, btw, but I can use Google... The statement "people do not want to buy their cars" is false.

Auto Sales - Markets Data Center - WSJ.com
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Old 02-28-2009, 12:22 PM   #16
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I am not a GM cheerleader, btw, but I can use Google... The statement "people do not want to buy their cars" is false.

Auto Sales - Markets Data Center - WSJ.com
No it is not, gm sales have been declining for years, did you just climb out from under a rock? They have lost volume and market share constantly year after year. Why are you such a fan boy for gm? You must either work for them, retired from them or own their lousy stock.
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Old 02-28-2009, 12:34 PM   #17
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From you link:
GM SOM = 19.4% (-4.5% SOM YTD) Sales off by 48%
Honda SOM = 10.8% +1.4 SOM YTD Sales off by 27.9%
Toyota SOM = 17.9% +1.4 SOM YTD Sales off by 31.9%
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Old 02-28-2009, 12:48 PM   #18
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It's a long read but I agree with this guy...

What's next for America when GM goes belly up? | EnerPub - Energy Publisher
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Old 02-28-2009, 12:57 PM   #19
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That was a rather compelling read, and it ought to scare the Hell out of all of us into doing whatever we need to do now in order to avert the worst-case scenario down the road.

Thanks for the link.
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Old 02-28-2009, 02:42 PM   #20
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No it is not, gm sales have been declining for years, did you just climb out from under a rock? They have lost volume and market share constantly year after year. Why are you such a fan boy for gm? You must either work for them, retired from them or own their lousy stock.
If no one wanted their cars, how could they be #2 in sales volume? Simple question...
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