GM posts highest net profit ever

Yea and the tax incentive to buy a Volt is up to $10K. So the deck isn't stacked by the government now is it? Ford took no money and they are still in business with no incentives or tax breaks from the government.

Ford is also showing profits, it really is a good thing Fella's, it means people are spending their 800.00 unemployment checks, and ironically they will go back to work....vicious cycle, isnt it

GM Receives Environmental Approval For Possible New China Assembly Plant.

The AP (2/10) reported, "General Motors Co. has won approval from environmental authorities in central China for a new $1.1 billion assembly plant, though the company says it has not yet decided on the plan." The $1.1 billion "vehicle assembly plant would have an eventual annual capacity of 300,000 vehicles," according to a notice posted on the Hubei Environmental Protection Bureau's website. "GM's office in Shanghai did not comment directly on the project Friday, but issued a statement saying the company would make 'sustainable plans' for expanding production capacity based on market conditions, and would share details 'at a proper time.'

This is exactly why I will never buy another GM product! We spend billions of U.S. tax dollars to bail these guys out of trouble and make them competitive again and they send jobs to China.

Also I hope the union chokes on the 4 billon worth of shares they scamed
out of the american taxpayer.

eric lavine wrote: there is a foriegn market and why not set up in their back yard and steal their resources, pollute their air

eric lavine wrote: Chryslers were made in my back yard, chevy's in my front yard, and smoke use to blow out the stacks out a LTV steel supplying and employing 13,000

Wait a minute...

Who cares if GM sets up plants in China? Its not like everyone is rushing to boycott Apple products for being built overseas. I suspect that GM is investing in China because they have a strong (and growing) market share there.

forgot a minute point, getting assessed 7k for the bridge and street attached to my Culdasac....these are the hidden costs of a long gone tax base...it really does suck because it takes away from my lavish life style

Ford Fan here...

The Silverado Superbowl commercial really pissed me off though, anyone else?

GM took pensions away from the white collar workers and GM pays no corporate income taxes for the nest 10 years. Pretty level playing field isn't it?

GM is now owned by the union and the union is going to stick it to the GM bosses. Seems they are being favored by Obama.

86BFN wrote: GM Receives Environmental Approval For Possible New China Assembly Plant. The AP (2/10) reported, "General Motors Co. has won approval from environmental authorities in central China for a new $1.1 billion assembly plant, though the company says it has not yet decided on the plan." The $1.1 billion "vehicle assembly plant would have an eventual annual capacity of 300,000 vehicles," according to a notice posted on the Hubei Environmental Protection Bureau's website. "GM's office in Shanghai did not comment directly on the project Friday, but issued a statement saying the company would make 'sustainable plans' for expanding production capacity based on market conditions, and would share details 'at a proper time.' This is exactly why I will never buy another GM product! We spend billions of U.S. tax dollars to bail these guys out of trouble and make them competitive again and they send jobs to China. Also I hope the union chokes on the 4 billon worth of shares they scamed out of the american taxpayer.

If you followed the business news you would know that GMs Chinese operations build cars for the Chinese market, the most rapidly expanding auto market in the world. The majority of GMs profits this last quarter were from this market. These cars are not imported to nor do they meet US Standards. No jobs were sent overseas, they are new jobs to produce cars for the Chinese market. It goes some distance toward offsetting the trade deficit. Don't buy one, no one cares. The big profits are in capturing % in emerging markets like China and India. Good job GM. I however prefer Fords.( I am a stockholder) but I currently drive a GM and like it very much.

eric lavine wrote: so lets try to figure out de de dumb de dumb, ahahah, where the profits go....maybe we let the slants keep the profit, you know like toyota lets us keep theirs.

GM kept the profits, hence the great quarter! I'm in favor of taking the profits from and applying them to the bottom line of our industry. Nothing like bringing it back home.

OverMyHead wrote: How about we take those profits and re-imburse all the creditors that got hosed in the bailout? the only reason for the record profits is that they have no longer have any debt.

I thought you were in favor of letting them file for bankruptcy and go under, as they would have done without the money.

Guess what, that's how bankruptcy works! The creditors made bad business decisions and now have no recourse. Which way do you want it today?

The largest auto manufacturer in the world has added third shifts to make more of these cars that no one wants!
Where do they store them all?

Take a way my debt and get the government to fork out money to anyone willing to put in a floor and I could work three shifts too, but instead my company gets to pay for GM to get the easy ride.

Let the courts do their job? Isn't that your big bad government that you seem to hate messing with free enterprise? Oh, I forgot, today you like the government meddling. You just want to decide which branch. Do you prefer they decide the fate of private business on Sunday only, odd numbered days, or months that start with F? Maybe only when you're confused about what you really want or whether you believe in the country and our form of government.

BTW, if you think no creditor was paid off in the GM bankruptcy, you should do a little research on MTLQQ (Motors Liquidation Company). They handled the liquidation of GMs assets and were approved by the court to do so.
If you are a vendor you have a choice. Supply product to a company you know may enter bankruptcy and not be able to pay you, or demand COD. Now you want government to force them to pay with money they don't have.
Get over it. My head is spinning trying to keep up with your arguments of government should vs government shouldn't get involved in private business.

OverMyHead wrote: Easy, when in doubt, Government should not.

Whose doubt?

It seems you are able to argue both sides of some issues, often at the same time.