G.M.’s Earnings Triple in First Quarter

Gerald · 05-05-11, 07:15 AM

General Motors said Thursday that it made $3.2 billion in the first quarter, more than triple what it earned in the quarter a year ago and its fifth consecutive profitable quarter.

Earnings were higher than expected, and included $1.9 billion in one-time gains for the sale of G.M.’s ownership interests in the Delphi parts maker and the Ally Financial credit-company. G.M. also took charges of $500 million related to its international operations.

Earnings were or $1.77 a share, compared with 55 cents in the quarter a year ago.

Without the charges and gains, the automaker earned about $1.7 billion, its best quarterly performance in more than a decade. In the quarter a year ago, G.M. reported a profit of $900 million.

“We are on plan,” Daniel F. Akerson, G.M.’s chairman and chief executive, said in a statement. “G.M. has delivered five consecutive profitable quarters, thanks to strong customer demand for our new fuel-efficient vehicles and a competitive cost structure that allows us to leverage our strong brands around the world and focus on driving profitable automotive growth.”

G.M. said revenue in the quarter increased 15 percent to $36.2 billion , and it ended the quarter $30.6 billion in cash reserves.

http://www.nytimes.com/2011/05/06/bu...motors.html?hp

Note: May 5, 2011

the_tyrant · 05-05-11, 07:18 AM

are they going to pay back the government for bailing them out?

Gerald · 05-05-11, 07:24 AM

Quote:

Originally Posted by the_tyrant

are they going to pay back the government for bailing them out?

Are you kidding, it will probably not be appropriate..

AVGWarhawk · 05-05-11, 08:04 AM

Quote:

Originally Posted by the_tyrant

are they going to pay back the government for bailing them out?

No, the government owns GM. No sense paying yourself back.

NeonSamurai · 05-05-11, 10:03 AM

So when do the stockholders (the US taxpayers) get their dividends?

Does that mean that the government owns the banks and wall-street too?

Gerald · 05-05-11, 11:12 AM

Quote:

Originally Posted by NeonSamurai

So when do the stockholders (the US taxpayers) get their dividends?

Does that mean that the government owns the banks and wall-street too?

No, but the benefits can come from any tax cuts .... which is unlikely in the current situation, I think that many shareholders are pretty big loser in the context

FIREWALL · 05-05-11, 12:14 PM

Quote:

Originally Posted by the_tyrant

are they going to pay back the government for bailing them out?

My exact first thought when I read Thread title.

Armistead · 05-05-11, 12:18 PM

I thought GM paid in all back plus interest....

gimpy117 · 05-05-11, 12:25 PM

I bet all the people who bought at $.55 are happy now

AVGWarhawk · 05-05-11, 02:04 PM

Quote:

Originally Posted by NeonSamurai

So when do the stockholders (the US taxpayers) get their dividends?

Does that mean that the government owns the banks and wall-street too?

Yes sir. Washington has not seen any returns yet. Therefore, these entities are under government watchful eye.

FIREWALL · 05-05-11, 02:06 PM

Quote:

Originally Posted by Armistead

I thought GM paid in all back plus interest....

05-05-11, 07:15 AM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	G.M.’s Earnings Triple in First Quarter General Motors said Thursday that it made $3.2 billion in the first quarter, more than triple what it earned in the quarter a year ago and its fifth consecutive profitable quarter. Earnings were higher than expected, and included $1.9 billion in one-time gains for the sale of G.M.’s ownership interests in the Delphi parts maker and the Ally Financial credit-company. G.M. also took charges of $500 million related to its international operations. Earnings were or $1.77 a share, compared with 55 cents in the quarter a year ago. Without the charges and gains, the automaker earned about $1.7 billion, its best quarterly performance in more than a decade. In the quarter a year ago, G.M. reported a profit of $900 million. “We are on plan,” Daniel F. Akerson, G.M.’s chairman and chief executive, said in a statement. “G.M. has delivered five consecutive profitable quarters, thanks to strong customer demand for our new fuel-efficient vehicles and a competitive cost structure that allows us to leverage our strong brands around the world and focus on driving profitable automotive growth.” G.M. said revenue in the quarter increased 15 percent to $36.2 billion , and it ended the quarter $30.6 billion in cash reserves. http://www.nytimes.com/2011/05/06/bu...motors.html?hp Note: May 5, 2011 __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

05-05-11, 10:03 AM	#5
NeonSamurai Ocean Warrior Join Date: Jan 2002 Location: Socialist Republic of Kanadia Posts: 3,044 Downloads: 25 Uploads: 0	So when do the stockholders (the US taxpayers) get their dividends? Does that mean that the government owns the banks and wall-street too? __________________ SH3 Newbie Guide Links and other helpfull stuff

05-05-11, 12:25 PM	#9
gimpy117 Ocean Warrior Join Date: Jul 2007 Location: Kalamazoo, MI Posts: 3,243 Downloads: 108 Uploads: 0	I bet all the people who bought at $.55 are happy now __________________ Member of the Subsim Zombie Army

05-05-11, 07:18 AM	#2
the_tyrant Admiral Join Date: Jun 2010 Location: Canada Posts: 2,272 Downloads: 58 Uploads: 0	are they going to pay back the government for bailing them out?

05-05-11, 12:18 PM	#8
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	I thought GM paid in all back plus interest....