GM posts its highest profit ever: $7.6 billion

[Antitrust32]

It may just be me. But I don't have a problems with regular blue collar workers getting a 7k bonus. Especially if they had pay cuts.

Now if the exec's are getting 6 figure bonuses on the tax payer dime.. I do have a big problem with that.

[Clip-Clop]

When you still technically owe people about 27 billion dollars, you really aren't profitable.
This is proof that when you have the opportunity to renegotiate a union contract that has been bleeding your company dry and driving it into the earth to more reasonable terms because the alternative was death, you are also bound to make more money. I am glad they did well, I just would have rather it been on other terms and would certainly preferred this be kept quieter like the bonuses that will go to the white collar workers will be until someone finds out.
They are also abandoning the untenable pension deal in lieu of a 401K like normal people have. Another good call.

[bigrun]

Originally Posted by Antitrust32

It may just be me. But I don't have a problems with regular blue collar workers getting a 7k bonus. Especially if they had pay cuts.

Now if the exec's are getting 6 figure bonuses on the tax payer dime.. I do have a big problem with that.

It's not just you....

[Riot]

Originally Posted by Antitrust32

It may just be me. But I don't have a problems with regular blue collar workers getting a 7k bonus. Especially if they had pay cuts.

Now if the exec's are getting 6 figure bonuses on the tax payer dime.. I do have a big problem with that.

Not just you. Pay cuts for all, especially starting sals, and pension cuts, benefit cuts. And all those jobs saved, the company reopening 2 plants, the supply chain jobs saved, the industry saved.

I'm tired of the whiners bitching. The President saved the US auto industry. Just say thank you. And if you don't like it, too bad, it's done, and it WORKED.

[dellinger63]

Originally Posted by Riot

Not just you. Pay cuts for all, especially starting sals, and pension cuts, benefit cuts. And all those jobs saved, the company reopening 2 plants, the supply chain jobs saved, the industry saved.

I'm tired of the whiners bitching. The President saved the US auto industry. Just say thank you. And if you don't like it, too bad, it's done, and it WORKED.

Good News: $7.6 Billion profit, $7K checks to 47,500 workers $332.5 million (four percent of profits)

Bad News: $27.2 billion still owed on $49.5 billion to the American taxpayer, divided per taxpayer $181 bucks.

Reality: $27.2 billion divided by 47,500 workers comes to $570,000 per job. Heck there are only some 10 million and some unemployed. At $570K a head we’re only talking about $5.7 trillion.

More Reality: This of course secures at least 47,500 union votes come November.

You Can’t Handle the Reality: We’re celebrating a $7.6 billion GM profit on a $27.2 billion Taxpayer loss?

My hope is at least a good portion of the 150 million taxpayers judge ‘WORKED’ much differently than you do.

[Riot]

Originally Posted by dellinger63

You Can’t Handle the Reality: We’re celebrating a $7.6 billion GM profit on a $27.2 billion Taxpayer loss?

No. We're celebrating the reality of the auto industry still existing in the United States, GM currently being number one in the world again, and hundreds of thousands of workers in the auto industry and supply chains not being unemployed, homeless and starving in the streets.

But you keep whining about it

[dellinger63]

Originally Posted by Riot

No. We're celebrating the reality of the auto industry still existing in the United States, GM currently being number one in the world again, and hundreds of thousands of workers in the auto industry and supply chains not being unemployed, homeless and starving in the streets.

But you keep whining about it

Was Ford going to quit out of respect?

You keep telling yourself it was worth it.

Bottom line a $27.2 billion loss to the taxpayer.

With the record profits on the books and the stock price still needing to double the future doesn't look too bright either.

[Riot]

Originally Posted by dellinger63

Bottom line a $27.2 billion loss to the taxpayer.

Bottom line American automobile industry still here, hundreds of thousands of jobs saved, huge manufacturing base saved. A raging success.

We have a different view. Good luck with yours Mine is pretty rosy :-) The view is great from here.

[dellinger63]

Originally Posted by Riot

Bottom line American automobile industry still here, hundreds of thousands of jobs saved, huge manufacturing base saved. A raging success.

We have a different view. Good luck with yours Mine is pretty rosy :-) The view is great from here.

FYI GM employs under 60K in the U.S.

And again I hope the majority don't see a $27.2 billion dollar loss to the taxpayer so a failing corporation can reap a $7 billion profit as rosy. In fact I hope they see it for what it is, a ripoff of the people.

If it had been a Private Equity firm that signed onto this deal there would people in jail, with investors screaming for their heads, yet you cheer on?

You do realiize that had GM actually gone out of business the demand for vehicles would have not decreased by a single one?