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Today's Show » More nonsense about GM

1 year, 11 months ago
...This time from the ever-reputable Investor's Business Daily. Let's just pick out the inaccuracies in this article... (in no particluar order)... GMAC, now called Ally, hasn't been "GM's lending arm" in six years. GM sold its controlling interest in Ally in 2006. Today, GM owns less than 4% of Ally. Also.... GM paid back its loan portion of the TARP arrangement ($7B) ahead of schedule. The "half of the TARP funds" are not loan debt... they are equity stake in GM. It can be divested at any time -- of course, it would be a loss right now. The escrow account that this stupid article says was used to pay back the TARP loan CONTAINED THE MONEY that was lent to GM in the first place. GM simply giving it back to the Treasury Dept un-used isn't something shady... It's called repaying the loan. GM does not continue to get government money. That's a lie. There's no mention of 'how' this is supposedly going on... As for the continued success that people like Wilkow and the silly IBD keep trying to 'nuh-uh', GM sold the most cars in the United States in 2011... Just GM... Not Chinese GM... Just GM. More than Ford... Toyota.... Chrysler.... Honda... As for being the world's largest automaker (which they are) Yes, GM counted the cars IT makes in partnership with other businesses, just as Toyota does.... Finally, if you read this idiotic piece closely, look how IBD spins Ford's 4Q11 quarterly profit as being the highest since 2000, and GM's as 'missing estimates'... What a crock of typical Wilkow-quality crap... GM's operating profit for the fourth quarter of 2011 was $500 Million... which is roughly the same as Ford's without their Ford Credit income. Of course, GM's full year 2011 income was up $2.9 BILLION from 2010, while Ford's was up $500 Million from 2010.... but who's counting....
1 year, 11 months ago
General Motors not doing so well?... A poorly done piece of clipart showing GM stock as toilet paper? Man, this guy is absolutely obsessed with GM being so successful... His latest article shows GM's sales, still #1 in North America, down a bit. Wow, Wilkow! Rub your beads together and hope and pray that they're running themselves into the ground now...

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