GM reported a net loss of $39 billion

<div class='quotetop'>QUOTE(ken1784 @ Nov 7 2007, 10:30 AM) [snapback]536141[/snapback]</div>

I took economics in college (1990) and the professor told us that GM was the largest corporation in the world, and every year they declared a loss so they wouldn't have to pay any taxes. Amazing that a company like GM, producing such mediocre automobiles, is still in business at all. Must be some government conspiracy to put the same Pontiac Grand Am on the road for the past 16 years!

I will never, ever ever ever, buy a GM car. Ford, maybe. Chrysler, perhaps. GM? Not for all the money in the world. I've rented enough of them to know how totally crappy they are.

-Dave in Seattle

 

<div class='quotetop'>QUOTE(ken1784 @ Nov 7 2007, 11:30 AM) [snapback]536141[/snapback]</div>

Simple.
GM, desiring to regain their "NUMBER ONE" standing slashed their guzzler's pricing way low. So they took a huge hit, but had more "sales" ... thus regaining their number one standing ... but likely just for this one quarter.

 

I think that 38 billion of that was the write off of a deferred tax credit, and was not related to current sales. I also think that another significant portion was due to sub-prime home mortgage losses by GMAC, which is the financial/loan division of GM; again not related to current sales.

 

You mean it's not from all the R&D going into the Volt?

 

They wrote that off years ago AFTER taking the government R&D incentives.

 

Don't forget the cost for the Volt ads.

 

<div class='quotetop'>QUOTE(ken1784 @ Nov 7 2007, 02:04 PM) [snapback]536220[/snapback]</div>

When?
Right about the time Tokyo's humidity drops below 2% during August

 

It seems to me like one of the rumors a while ago was that Toyota was selling hybrids at a loss demonstrating unfair trade practices. I guess now that we see Toyota firmly in the black and GM apparently selling autos at a loss in order to amass such miserable 'earnings' we will be seeing a retraction.

 

<div class='quotetop'>QUOTE(ken1784 @ Nov 7 2007, 02:04 PM) [snapback]536220[/snapback]</div>

When I grow hair.