GM Posts Record Profits for 2011
02-16-2012, 03:29 PM
#1
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GM Posts Record Profits for 2011
As the title states, GM just reported their financial "stats" for the 2011 year. There is many articles circulating the web, but I decided to use the article directly from the horses mouth.
http://www.gm.com/content/gmcom/home...rnings.gm.html
http://www.gm.com/content/gmcom/home...rnings.gm.html
02-16-2012, 04:18 PM
#2
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i think its a good thing. most people will think that GM is ripping people off and making a fortune. but if an american auto maker has record profits it means people are buying an american brand.
02-16-2012, 04:19 PM
#3
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Looks like a rebound to me. Too bad their stock won't get much higher until our government sells there interest. But it's a positive step in the right direction.
02-16-2012, 07:58 PM
#4
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Location: Akron Ohio
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Right now they are doing all things right. But this is a long road and they still have a lot to do. The ATS Cadillac is only the first of the new GM cars. The others like the new Malibu and Impala were left over from the end of the old GM. They were held up because there was no money to bring them out properly.
Like em or not Lutz and Wagoners work to globalize GM will pay off big in the future. Also today anouncment of the 401 K pensions will help a lot.
The Euro can still hurt them as could high gas prices with the new trucks coming. That is a major part of their income and will be for some time to come. While the cars are doing better they are still funded by the truck market.
I hope GM works to pay off the loans as soon as they are able as this would be the best public relations move they could pull. It would gain the trust of many and shut up many who have no clue and want to make a political debate out of this.
There is some really neat stuff coming. The Alpha platform alone will soon yeild the ATS, a new CTS and a new Camaro. Note the ATS is the size of a 3 series BMW but comes in at 3300 pounds with the LNF 270 HP 4 cylinder. Think HHR SS performace with RWD and the new Magnetic shocks like the Corvette and ZL1 Camaro use to mask its weight issue.
Like em or not Lutz and Wagoners work to globalize GM will pay off big in the future. Also today anouncment of the 401 K pensions will help a lot.
The Euro can still hurt them as could high gas prices with the new trucks coming. That is a major part of their income and will be for some time to come. While the cars are doing better they are still funded by the truck market.
I hope GM works to pay off the loans as soon as they are able as this would be the best public relations move they could pull. It would gain the trust of many and shut up many who have no clue and want to make a political debate out of this.
There is some really neat stuff coming. The Alpha platform alone will soon yeild the ATS, a new CTS and a new Camaro. Note the ATS is the size of a 3 series BMW but comes in at 3300 pounds with the LNF 270 HP 4 cylinder. Think HHR SS performace with RWD and the new Magnetic shocks like the Corvette and ZL1 Camaro use to mask its weight issue.
02-16-2012, 08:16 PM
#5
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i think its amazing the amount of horsepower some of these new cars are coming out with. 10 years ago a camaro SS came out that was the 35th anniversary edition. it was all tricked out and had 325hp/340tq. considering that the newest camaro that is supercharged (zl1) has 580hp/556tq, i'd say the amount of power increase in 10 years with the same dispacement and better fuel economy is amazing. the V6 camaro has almost the same horsepower. and im sure there are a few SS's on this forum running similar numbers to the anniversary camaro. my buddys 86 firebird(somg years) is an absolute slug compared to my SS. and its in mint condition. im also willing to bet the older camaro wasn't capable of the 30mpgs the new camaro V6 claims.
02-16-2012, 08:40 PM
#6
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Hyper.....GM paid off the LOANS (except for a second loan from, I believe the DOE), kind of (a little hanky-panky was imployed). The rest of the BILLIONS, something like $30B, is in government owned stock of the new GM....which gave Uncle Sam a 61% ownership of GM.
ChevyMgr......the government should not sell their stock until the price is, at least, what was invested.......something like $34/share. Afterall, this money is ours, the taxpayer. If Obama or ANY admistration sells before then, they should be shot. Of course, the way this administration spends money, maybe not.
ChevyMgr......the government should not sell their stock until the price is, at least, what was invested.......something like $34/share. Afterall, this money is ours, the taxpayer. If Obama or ANY admistration sells before then, they should be shot. Of course, the way this administration spends money, maybe not.
02-16-2012, 08:42 PM
#7
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[quote=hyperv6;618137.
I hope GM works to pay off the loans as soon as they are able as this would be the best public relations move they could pull. It would gain the trust of many and shut up many who have no clue and want to make a political debate out of this.
.[/quote]
Agreed - Pay it back quickly with no hidden tricks so no one can say it with an asterisk (*). I think it's great that now everyone's trying to get on the bandwagon, saying they were for the bailout, when they complained and voted against it all along. At the autoshow in Detroit, both GM and Ford had knockouts on the floor. Mistakes at GM were made in the past, they've gotten leaner, have a worldwide presence and the future looks bright - hopefully for all three.
I hope GM works to pay off the loans as soon as they are able as this would be the best public relations move they could pull. It would gain the trust of many and shut up many who have no clue and want to make a political debate out of this.
.[/quote]
Agreed - Pay it back quickly with no hidden tricks so no one can say it with an asterisk (*). I think it's great that now everyone's trying to get on the bandwagon, saying they were for the bailout, when they complained and voted against it all along. At the autoshow in Detroit, both GM and Ford had knockouts on the floor. Mistakes at GM were made in the past, they've gotten leaner, have a worldwide presence and the future looks bright - hopefully for all three.
02-17-2012, 05:53 AM
#8
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Hyper.....GM paid off the LOANS (except for a second loan from, I believe the DOE), kind of (a little hanky-panky was imployed). The rest of the BILLIONS, something like $30B, is in government owned stock of the new GM....which gave Uncle Sam a 61% ownership of GM.
ChevyMgr......the government should not sell their stock until the price is, at least, what was invested.......something like $34/share. Afterall, this money is ours, the taxpayer. If Obama or ANY admistration sells before then, they should be shot. Of course, the way this administration spends money, maybe not.
ChevyMgr......the government should not sell their stock until the price is, at least, what was invested.......something like $34/share. Afterall, this money is ours, the taxpayer. If Obama or ANY admistration sells before then, they should be shot. Of course, the way this administration spends money, maybe not.
I know what the score is here I still consider the 61% as part of the loan. I don't fall for creative accounting. GM and the public do not have control of the company ownership and till the contry sells GM is still on the goverment money. Kind of like a pawn shop in a twisted way.
The day the goverment sells out and no longer hold any part of GM it will be a win win for both sides. The key now is like you stated for the stock priced to go up and much of that is up to GM doing the things they need to get the price up. This will require some more work and time.
New product and continued sales with profits will help do this but it will take time. The Goverment burned a lot of share holders and many are not ready to race in again as long as they have control over the stock. This also is why the Goverment is staying hands off for the most. They know if they direct Gm in any major way that it would sink the stock even more.
02-17-2012, 06:50 AM
#9
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They have a sweetheart deal with the US Gov. No corporate taxes for 7 years among all the other 'favors' to keep them afloat and the union donations coming in. All that while spending millions on the Volt which is the biggest failure of an automobile in recent memory.
Now, I wonder if Pelosi will go after GM for 'excessive profit'?
Now, I wonder if Pelosi will go after GM for 'excessive profit'?
02-17-2012, 07:22 AM
#10
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They have a sweetheart deal with the US Gov. No corporate taxes for 7 years among all the other 'favors' to keep them afloat and the union donations coming in. All that while spending millions on the Volt which is the biggest failure of an automobile in recent memory.
Now, I wonder if Pelosi will go after GM for 'excessive profit'?
Now, I wonder if Pelosi will go after GM for 'excessive profit'?