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(Reuters) - General Motors Co GM.UL posted a $2 billion third quarter profit on Wednesday amid increased production and planning for an IPO that could be completed later this month.
GM's profit met the expected range it outlined last week when it said it expected a full-year profit, which would be its first since 2004, and released details of its plans for an offering of common and preferred shares.
funny , they had a supposed 2 billion 'profit' yet they have a 11 billion DEBT
and rewmember 61% of gm is owned by the treasury
Why is it funny?
It is the first profit them made since 2004, so I think that is rather good news, and they are going to be re-privetized soon. I believe the IPO is scehduled for next month.
(Reuters) - General Motors Co GM.UL posted a $2 billion third quarter profit on Wednesday amid increased production and planning for an IPO that could be completed later this month.
GM's profit met the expected range it outlined last week when it said it expected a full-year profit, which would be its first since 2004, and released details of its plans for an offering of common and preferred shares.
It's easy to make a profit when you shift production to Mexico and China. Anybody can do that.
It is the first profit them made since 2004, so I think that is rather good news, and they are going to be re-privetized soon. I believe the IPO is scehduled for next month.
why is it funny
because you cant have a profit if you have a massive debt
profit is what is left when all your overhead is paid
GM still owes 2.8 billion to United Auto Workers retiree health care trust,, so with owing 2.8 billion (just one part of thier debt) can you TRUELY say thay had a profit
because you cant have a profit if you have a massive debt
profit is what is left when all your overhead is paid
GM still owes 2.8 billion to United Auto Workers retiree health care trust,, so with owing 2.8 billion (just one part of thier debt) can you TRUELY say thay had a profit
Actually pretty much all companies have debt.
Why do good news make you angry? Would you be happier if they had posted a loss?
because you cant have a profit if you have a massive debt
profit is what is left when all your overhead is paid
Of course you can....when the government is running the operation.
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