Except for the 3.2 billion$US I lost this quarter, I made 1.3 billion$ this quarter!!!!!??????? --- WTF!!!
Assuming 90 days in the quarter this is 35.5million$US per day,
8.8 million dollars per hour, 147,000$ *per minute* -- 24/7.How many of you shop owners could sell your bank and/or investors on the idea that you were doing a good job with these kinds of results? And the price of GM stock went up 4% after this news.
US taxpayers should note that they will have to make up *SOME* the pension funding shortfall through the PGBC that these losses should have paid for. Current retirees and vested pension holders will take a bigger hit when GM goes belly up because the PGBC will not cover the entire value of their contracted pension and/or medical care.
=========== GM posts 2Q loss of $3.2 billion
By SARAH KARUSH, Associated Press Writer 34 minutes ago
DETROIT - General Motors Corp. said Wednesday it lost $3.2 billion in the second quarter as it absorbed heavy charges for its massive restructuring program. But the world's largest automaker reported an adjusted profit without the charges that handily beat Wall Street estimates and its sales surged 12 percent.
Investors sent GM shares up nearly 4 percent in morning trading.
The loss of $5.62 per share in the April-June period compared with a loss of $987 million, or $1.75 per share, for the same period last year.
Without the one-time charges, GM said it earned $1.2 billion, or $2.03 per share. That was significantly ahead of the 55 cents per share forecast by analysts polled by Thomson Financial.
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...and at the end of the fight is a tombstone white with the name of the late deceased, and the epitaph drear: ?A Fool lies here, who tried to hustle the East.?
Rudyard Kipling The Naulahka, ch. 5, heading (1892).