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Topic: GM reports $4.86B profit
in ´12, to pay workers
up to $6,750 in bonuses |
GM reports $4.86B profit
in ´12, to pay workers
up to $6,750 in bonuses
Detroit News, by Melissa Burden
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Original Article
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Posted By:NorthernDog, 2/14/2013 11:12:47 PM
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| General Motors Co. said Thursday it earned $4.86 billion in 2012, down from a record $7.59 billion profit in 2011 mainly due to one-time tax accounting changes and a non-cash charge in Europe of certain assets that hit the carmaker´s bottom line. The Detroit automaker reported its third consecutive yearly profit and earned $2.92 a share for the year, down from $4.58 a share the year before. During 2012, unfavorable special items cut earnings by half a billion, or 32 cents a share. The 2011 full year included a favorable impact of $1.2 billion in special items
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Reply 1 - Posted by:
grounded, 2/14/2013 11:25:16 PM (No. 9177341)
It must be great to be exempt from paying taxes. Sounds like a lot of creative bookkeeping going on here. They must have borrowed some accountants from OMB.
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Reply 2 - Posted by:
bob913, 2/14/2013 11:26:52 PM (No. 9177343)
The company I work is giving us 2% raise. They are firing thousands of people to pay for obamacare. They should ask for a bailout.
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Reply 3 - Posted by:
Axeman, 2/14/2013 11:35:58 PM (No. 9177354)
Does this mean they are paying us back for the bailout?
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Reply 4 - Posted by:
RedWhiteBlue, 2/14/2013 11:36:37 PM (No. 9177355)
I wonder if those hourly UNION workers got a waiver from the 0bomberCare TAX. Anyone know?
If they did how are they paying their ´fair share´ that their Thug leader is demanding of EVERYONE? Is sure would be curious if they voted for the THUG which means they were for the 0bomberCare but then they won´t be partaking in the scalping of America.
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Reply 5 - Posted by:
lylacat, 2/14/2013 11:38:33 PM (No. 9177357)
How can GM say they made a profit when they owe the taxpayers billions? I will NEVER buy a GM product again.
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Reply 6 - Posted by:
smcchk, 2/15/2013 12:14:15 AM (No. 9177379)
Just bought a Subaru.
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Reply 7 - Posted by:
FL_Absentee_Voter, 2/15/2013 2:25:46 AM (No. 9177432)
How much will the rest of us shareholders (taxpayers) be getting?
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Reply 8 - Posted by:
horacer, 2/15/2013 2:38:48 AM (No. 9177439)
Lots of channel stuffing, government sales, fire sales and what do you know we have a profit. Doesn´t matter it´s all built on fraud, because fraud is what we do best.
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Reply 9 - Posted by:
Trigger2, 2/15/2013 4:50:52 AM (No. 9177474)
Instead of bonuses, why isn´t GM required to pay the taxpayers back first????
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Reply 10 - Posted by:
brendacross, 2/15/2013 4:54:49 AM (No. 9177475)
bought 2 Nissans recently, used to buy GM not anymore
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Reply 11 - Posted by:
steveracer, 2/15/2013 6:04:23 AM (No. 9177515)
That sounds like a lot of dough, are they charging us too much for a Chevy? Maybe they should slash prices.
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Reply 12 - Posted by:
uno, 2/15/2013 6:05:35 AM (No. 9177517)
Sales are down, but hey we´re lookin good! Sure!
Maybe they should come out with more appropriate models such as the Buick Bloodsucker, or the Cadillac Freeloader, or Chevy Scounger. This is an over-taxed payer scam!
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Reply 13 - Posted by:
srhcb, 2/15/2013 6:21:23 AM (No. 9177532)
Gee.
I wonder why their stock dropped 3% yesterday then?
Maybe investors (including US taxpayers) don´t like profits?
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Reply 14 - Posted by:
lakerman1, 2/15/2013 7:33:26 AM (No. 9177599)
While I cannot offer objective data, I believe GM is cooking the books by offering lowball leases, perhaps with the assumption that the leaseholders will buy out the lease at its end date. That allows them to believe they have sales that do not exist.
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Reply 15 - Posted by:
canuckchopper, 2/15/2013 7:40:37 AM (No. 9177602)
The stock of snow-covered pickups at my local GM dealer says that these machines are just not moving - Ford dealership has a much smaller lot of vehicles.
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