Rossputin
01/26/06

GM earnings

see "General Motors Posts Big Loss, Shares Dip" (AP via Yahoo, 1/26/06) http://biz.yahoo.com/ap/060126/earns_gm.html?.v=10 GM lost $4.8 billion in the last quarter...that's $53 million per day! It's amazing that the stock is still trading where it is. I suppose the market hopes that they can restructure, along the lines of what Ford just announced. But I think their years of buddying up to unions makes their long-term prospects dismal. The CFO of GM still claims they will not file for bankruptcy, and I think they will be able to stave it off for a good long time, at least a year. But I'd be surprised if they don't have to reorganize eventually.

1 comment

# T F Stern on 01/26/06 at 19:43
I never lost that much, not even in a year. Talk about not understanding how profit and loss works.
I Am John Galt
Politics, economics, current events, philosophy and more, with a focus on free minds, free markets, and free people.

Following Obama's Economic Policies

Following Obama
August 2015
Mon Tue Wed Thu Fri Sat Sun
 << <   > >>
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31            

  XML Feeds

powered by b2evolution