[Oberjej]

LA Times: http://www.latimes.com/business/la-f...,4846220.story

GM is rebounding with the economy. Annual sales increased almost 30% to $135.6 billion from $104.6 billion in 2009.

But its profit was also made possible by a 2009 bankruptcy and a government bailout. The restructuring allowed GM to slash debt, cut employment, reduce health expenses, rewrite union contracts, winnow out surplus factories and trim the cost of building a vehicle by several thousand dollars.

The restructuring left U.S. taxpayers as the automaker's biggest shareholder. The federal government still owns a 27% stake of GM, when all of the outstanding options for shares held by various parties are included. Canada owns 7%.

GM has repaid $22.7 billion of the $49.9 billion in government aid it received. The repayments include $13.5 billion in proceeds from the automaker's IPO.
...

Last year, Chevrolet outsold the Toyota brand for the first time since 2007. The American brand sold almost 1.6 million vehicles in 2010, compared with 1.5 million for Toyota.

[Catalogov]

Did ya see where Government Motors gave their union workers a $4,000 bonus???

How about paying off the taxpayers that saved their union-luvin' butts first????

http://www.businessweek.com/news/201...ns-trucks.html

GM Falls to Lowest Since IPO as Rising Oil Threatens Trucks

February 24, 2011, 4:36 PM EST


By Craig Trudell and David Welch

(Updates with closing share price in second paragraph.)

Feb. 24 (Bloomberg) -- General Motors Co. fell to the lowest since its initial public offering in November as rising oil prices dimmed the outlook for truck sales after the largest U.S. automaker’s most profitable year since 1999.

GM slid $1.57, or 4.5 percent, to $33.02 at 4:15 p.m. in New York Stock Exchange composite trading. The shares earlier fell as low as $32.05, less than the $33 initial offering price in November.

Chief Executive Officer Dan Akerson is speeding the development and introduction of new models, including more fuel- efficient cars that may sell better as gas prices rise. GM used larger discounts and sales incentives in January and February to lure buyers before vehicle introductions pick up in 2012.

“The worst-case scenario is that GM uses pricing to get them through this gap in new product they’re in, and then you combine that with oil spiking,” Nicholas Colas, chief market strategist at BNY ConvergEx Group in New York, said in a telephone interview.

[Eeaquzyh]

Did ya see where Government Motors gave their union workers a $4,000 bonus???

How about paying off the taxpayers that saved their union-luvin' butts first????

GM did in 20 months what Spkr. Boehner and other Republican politicians said couldn't be done in five years. They turned a profit. If Wall Street bankers can walk away with millions and no repercussions from their actions that nearly brought this economy to ruin, the line workers at GM can have $4,000 for their hard work.

[Cersdog]

GM did in 20 months what Spkr. Boehner and other Republican politicians said couldn't be done in five years. They turned a profit. If Wall Street bankers can walk away with millions and no repercussions from their actions that nearly brought this economy to ruin, the line workers at GM can have $4,000 for their hard work.

Agreed.