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Posts Tagged ‘GM’

GM Profits fall 14%

by Phantom Ace ( 3 Comments › )
Filed under Business, Economy, Headlines at October 31st, 2012 - 10:50 am

Barack Obama keeps pushing that GM is in great shape after his bailout. The truth is that it was a payoff to the UAW. Economic reality is now catching up to GM. Their 3rd quarter profits fell 14% from last year.

DETROIT (AP) — A turnaround in South America and a rosier outlook in Europe helped push General Motors shares up in premarket trading Wednesday, even though the company’s third-quarter net profit fell 14 percent.

GM said it earned $1.48 billion from July through September, down from $1.73 billion a year earlier, as European pretax losses widened and North American profits fell.

GM got saved by Latin American sales. This will not last as economic reality is catching up with them.

The Ghost of Harley Earl

by Bunk Five Hawks X ( 45 Comments › )
Filed under Art, Cars & Trucks, History, Humor, OOT, Open thread at January 14th, 2012 - 11:00 pm


[via]
What happened to the great prototypes? Where is Harley Earl, now that we need him? Why am I writing anything about an image that already has a great caption?

I don’t know, Babs, but I do know this.
It’s time for The Overnight Open Thread.

Government Motors Kills Saturn

by tqcincinnatus ( 185 Comments › )
Filed under Economy, Socialism at October 2nd, 2009 - 5:00 am

Great, I knew I should have bought that Honda instead,

For those who expected General Motors’ once-funky Saturn brand to live on with a new owner, there has been a sad twist. Saturn, once billed as a different kind of car company, appears as dead as Pontiac and Oldsmobile.

At the brand’s 350 remaining dealers around the country, there were high hopes that a deal would be announced for GM to sell the brand to former race car driver and auto industry magnate Roger Penske.

Instead, Penske Automotive Group Inc. announced Wednesday it is walking away from the deal, unable to find a manufacturer to make Saturn cars when GM stops producing models sometime after the end of 2011. GM then announced it would stop making Saturns and soon would close down the brand, just like it did with Oldsmobile in 2004 and soon will do with Pontiac.

The day’s events mean an almost certain end to Saturn, a brand that was set up in 1990 to fight growing Japanese imports. Instead of celebrating a rebirth, the announcements sent dealers scrambling for ways to stay open and preserve about 13,000 jobs.

“I find this hard to believe,” said Carl Galeana, owner of two Saturn dealerships in suburban Detroit. “Everyone’s been saying we’re right at the goal line.”

News flash for Mr. Galeana – people connected with the government lie. Routinely.

However, I suppose that this one can’t be blamed on Obama. Apparently Saturn was running in the red for quite a while, but nobody bothered to do anything about it because it was “hip” and “cool” and appealed to young people, just the sort of idealism that finds things like “making the necessary changes to our business model so that we can become profitable” to be just a tad tawdry.

On a personal note, I guess I’m going to have an even tougher time getting service for the used Saturn Ion I bought earlier this year with the payout from my totaled Scion. Which is a shame, because the Ion is a piece of junk.

Marxism USA

by Phantom Ace ( 67 Comments › )
Filed under Barack Obama, Economy, Liberal Fascism at June 1st, 2009 - 9:06 am

Thexism, Barack Obama world is upside down when Pravda, the former voice of  communism in Russia is now shocked that America is going down a road they rejected!

American capitalism gone with a whimper

It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.

Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

This is unbelievable. The Russians see what is going on here, but unfortunately most Americans don’t care, or are too blind to. Here are two examples of what is happening.

GM Files for Bankruptcy Protection

DETROIT — General Motors Corp. filed for Chapter 11 bankruptcy early Monday, marking the humbling of an American icon that once dominated the global car industry and setting up a high-stakes gamble for U.S. taxpayers. (See the Chapter 11 filing.)

Government run car companies, does the Trabant ring a bell?

Citigroup Stuck With Bernanke Offer Rival Banks Plan to Refuse

June 1 (Bloomberg) — When financial stocks slumped in February to the lowest level in at least 17 years, U.S. Federal Reserve Chairman Ben S. Bernanke told Congress the government might end up owning “substantial” stakes in the country’s biggest banks.

Three months later, New York-based Citigroup Inc. may be the only large bank that has to accept his offer.

Government run banks, car companies… and who knows what else is coming.  How ironic it is that only twenty years after the end of the Cold War, it is Russia and China who are now the capitalists while America and Europe are Marxist. The world is turned upside down.