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16 Feb 2012 18:39


Biz: Still think Detroit’s going bankrupt? Check out GM’s killer numbers

  • $4.7 billion General Motors’ posted earnings for the 2010 fiscal year
  • $7.6 billion General Motors’ posted earnings for the 2011 fiscal year source
  • » What a record to break! One year removed from bankruptcy, American automaker General Motors posted record-setting earnings for the 2011 fiscal year. In recent weeks/months many investors worried that GM’s overseas operations would drag down the company’s year-end totals. GM lost a total of $747 million in European markets, with $562 million of the losses occurring in the fourth quarter alone. In South America, where the company reported $818 million in earnings for 2010, GM reported a net loss of $122 million. However, not only did the company defy global expectations, GM managed to break its former $6.7 billion earnings record, set in 1996.

24 Feb 2011 21:34


Biz: General Motors’ good year: Their first full-year profit since ’04

  • $100 billion the amount GM lost between 2005 and 2009, when they had to be bailed out by the feds
  • $4.7 billion the amount they earned in 2010 – they’re doing the Dougie in the boardroom today source
  • » It’s not all up-and-up, though: At $510 million, the company’s fourth-quarter numbers, while still profitable, paled in comparison to the rest of the year. Still though, the fact that it’s a profit is definitely Dougie-worthy, no matter how you look at it.

10 Jan 2011 21:21


Biz: Auto bailouts: Chrysler on the comeback trail, slowly but surely

  • I haven’t gotten any questions yet today like, ‘Will you be here next year?’
  • Chrysler chief executive Sergio Marchionne • On the company’s slow bounceback. Chrysler hasn’t had the dramatic turnaround that Ford and GM have had since the nadir of the financial crisis, but they appear to be making headway with a new generation of vehicles – particularly the newest Jeep Grand Cherokee, which has done well despite the fact that SUVs have fallen out of fashion lately. The company’s collaboration with Fiat has also helped buoy Chrysler. So, how about paying back those loans from the bailout and other sources? “We are going to repay one hundred cents on every dollar of loans we received,” Marchionne said. source

27 Nov 2010 11:43


Biz: General Motors officially crosses the “biggest IPO ever” mark

  • $23.1
    the size of GM’s IPO, officially the biggest global IPO on record
  • $49.5
    the amount they owe the government for their bailout source
  • » What’s needed next? If the government hopes to break even on its huge investment in GM, the stock needs to hit around $50 a share. It’s currently at $33.80, but if, say, the Chevy Volt is a huge success on the market, it could definitely hit that mark.

18 Nov 2010 10:15


Biz: GM hopes for, but can’t promise, a full bailout repayment

  • I don’t know where the market is going to be a year or two down the road, so I can’t make such a bold statement. Sure, I’m hopeful, and I’m not saying it can’t happen. I think the company is well positioned … so things look good for General Motors.
  • GM CEO Dan Akerson • Not committing to a full repayment of the taxpayers’ money from the bailout. It sounds like a hedging of the bets, honestly. If he says it now and the stock goes south, he’s on the record offering a promise he can’t keep. For what it’s worth, though, GM’s stock is doing boffo so far in its first day of trading, already up six percent in early-morning trading. source

17 Nov 2010 22:45


Biz: GM’s initial public offering does exactly what everyone expects

  • $20.1
    the amount raised by GM’s IPO earlier today (which is amazing, and the biggest ever)
  • $4.35
    the amount in preferred shares the company sold, far above the $4 billion anticipated
  • 33%
    the amount of GM the government will still own after the IPO, down from 61 percent source

16 Nov 2010 20:06


Biz: Bailout blossoming: GM’s pending IPO quickly growing ever-larger

  • 30% the increase in the total size of GM’s post-bailout IPO tomorrow
  • 478M number of shares to be offered to investors; more could be offered
  • $22.6B the potential size of the IPO, which would be the biggest ever source

10 Nov 2010 09:48


Biz: Bailed-out (and profitable!) General Motors kicking butt these days

  • $2 billion in profits for GM in the third quarter alone (*golf clap*)

Three reasons why this is good news:


  • one It’s shaping up to be their first profitable year since 2004 – long before we heard anything about auto industry bailouts.
  • two Most of the profits came from North America, where the company has been fairly weak in recent years. (Too many SUVs.)
  • three GM has an IPO coming very soon, and a solid performance like this bodes well for their return to stocks. source

31 Oct 2010 20:37


Biz: “Pontiac, 84, Dies of Indifference”: We admit to stealing this headline

The New York Times came up with a better headline than we ever will, so rather than trying to fight it, ta-da! Here it is again – for the first time. source

04 Sep 2010 10:30


Biz: General Motors’ IPO may not mean taxpayer payback at first

  • $70
    the amount GM needs to make on its IPO to ensure the government gets all of its bailout money back
  • $50
    the amount GM could make on the IPO at the low end; the cruddy economy may be a factor source
  • » Other considerations: The IPO is obviously only a starting point – the rest of the $43 billion the automaker still owes taxpayers could be made back later. But as a jumping-off point goes, it’d be nice to see the IPO on the high end, around $90 billion. (Edit: We’re dummies and we mistyped these earlier. Sorry.)