Gm Skidding Again!!

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Nov 7, 2007 | 07:39 PM

wendell borror

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Gm Skidding Again!!

I just heard on fox news that GM suffered the 2nd biggest loss in automotive history, from july untill now. They said it was complecated, but had something to due with taxes and so fourth. GM's oct american sales were very sluggish and are skidding once again. I was on the web and the tv was on in the other room, so I didn't hear all the details, but enough to know thier in trouble again. I thought GM was doing the best out of the big 3, I guess they were, but are skidding now. I'm sure Cerberus will be chasing them with thier check book in hand ha ha. It's really not funny as we have a lot of folks around here that work at GM, either at Parma or Lordstown.

Nov 10, 2007 | 02:37 PM

Lazy K

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$39billion in the third quarter. The second biggest loss ever posted by any company anywhere. Enough money to keep many smaller countries going for a year. Hard to take in.

Nov 10, 2007 | 02:46 PM

MisterCMK

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I think they ended up taking a hit due to pensions or something like that.

Nov 10, 2007 | 07:28 PM

Fordsflylow

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I read it was thee largest in history, not second, and in large part due to the housing crunch and gmac taking it on the nose like most mortgage co's have. I also read where gm sold allison trans and was finalized this year which helped offset the losses.

Nov 10, 2007 | 08:43 PM

Ultraute

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Second largest loss ever recorded. (1st is AOL/TimeWarner) Mostly due to the GMAC losses. There auto divisions are not doing that bad. (Not too good, but THAT bad)
See:
http://money.aol.com/news/articles/_...07155309990004

Nov 10, 2007 | 09:25 PM

wendell borror

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GM doesn't have any exciting products, thier vehicles are boring to say the least. Ford at least has the mustang, fusion and the new edge is selling like hot cakes even though I don't care for it. The new escape is selling verywell a round here. I'm not saying all of fords cars are breath taking, but they do have a decent line up. I move my mustang, it's the most fun and exciting car that I've driven in a long long time and the retro look is awesome. I'm also very impressed with my fusion, a very solid car with plenty of room, I really like it's sporty looks. It handles very well and I got the 4 cylinder with the auto and it has plenty of power, it feels quicker than my 06 focus st that I had, I'm very impressed. The most exciting thing GM had was that retro p/u roadster looking thing, I don't know if it's even still offered. Other than the vette, thier lineup is pretty mondain and I like the looks of the stang a lot better than the vette. Even dodge has some cooler stuff than GM. If it wasn't for loyal buyers, I feel they would even be in worse shape. Pomtiac and saturn have that little roadster thats pretty cool, but the chevy brand as a whole is pretty bland.

Nov 10, 2007 | 09:45 PM

osbornk

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Don't take a quarterly result seriously. They can pick which quarter they need to take charges and this manipulates quarterly results. I suspect they decided this was the time to take a large write-off so the union would feel good about the recently signed contract and help union-company relations.