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In remarkable turnaround, GM may post record profit

msnbc.com -- Just three years after the automaker drove into government-run bankruptcy, requiring a massive taxpayer-funded bailout to keep it in business, General Motors is setting its sights on making over $10 billion a year, according to a report in The Wall Street Journal.

The newspaper reports that GM is already on track to achieve that goal, citing company sources that the Journal said have seen the company’s 2011 fourth-quarter results, which are due to be reported next week. GM is set to report net income of about $8 billion, its highest ever, and nearly twice the

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Submitted Feb 06, 2012 By: des7902

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DrCashFlow Champion Author Massachusetts Posts:5,266 Points:1,268,250 Joined:Jun 2008	Message Posted: Feb 7, 2012 11:00:12 PM Ignore DrCashFlow Report Abuse Doeslayersr has got it right
Norm10 Champion Author British Columbia Posts:1,823 Points:89,320 Joined:Dec 2010	Message Posted: Feb 7, 2012 7:02:14 AM Ignore Norm10 Report Abuse Don't get your hopes up - GM can always find ways to loose more money!
blupupher Champion Author Houston Posts:1,675 Points:416,115 Joined:Feb 2011	Message Posted: Feb 7, 2012 5:59:14 AM Ignore blupupher Report Abuse Yet they have failed to pay back all the money they owe the govt?
BurntOrange Champion Author Austin Posts:6,660 Points:1,224,730 Joined:Nov 2007	Message Posted: Feb 7, 2012 5:31:29 AM Ignore BurntOrange Report Abuse Do the same people who whine about oil company subsidies support GM's bailout?
doeslayersr Champion Author Illinois Posts:5,786 Points:506,200 Joined:Dec 2010	Message Posted: Feb 7, 2012 4:05:24 AM Ignore doeslayersr Report Abuse When GM purchases back all of the Government owned stock at a hefty profit to the tax payers and buys back the stock which was given to the union at tax payer expense, then they can start mentioning the word profit. Of course they will need to prune crap products like the Volt from their product line as well. [Edited by: doeslayersr at 2/7/2012 7:05:44 AM EST]
pepinoNC Sophomore Author Raleigh Posts:129 Points:295,955 Joined:May 2011	Message Posted: Feb 7, 2012 2:26:51 AM Ignore pepinoNC Report Abuse Good news for a change. Don't understand why some folks are wishing for failure.
pepinoNC Sophomore Author Raleigh Posts:129 Points:295,955 Joined:May 2011	Message Posted: Feb 7, 2012 2:26:18 AM Ignore pepinoNC Report Abuse There are no loans. GM will have to buy back the govts ownership stake. Please do a little research before posting.
MN1 Champion Author Twin Cities Posts:1,497 Points:292,810 Joined:Jun 2011	Message Posted: Feb 6, 2012 11:08:06 PM Ignore MN1 Report Abuse Good, pay back every cent of the loans with interest.
36_ACRES_4_SALE All-Star Author Appleton Posts:608 Points:160,570 Joined:Oct 2011	Message Posted: Feb 6, 2012 10:40:05 PM Ignore 36_ACRES_4_SALE Report Abuse I knew they could do it!
northeast2 Champion Author New York Posts:3,156 Points:849,845 Joined:Mar 2008	Message Posted: Feb 6, 2012 9:12:32 PM Ignore northeast2 Report Abuse Yeah, it's a good thing we let them fail.
livable1 Champion Author New York Posts:2,323 Points:283,265 Joined:Oct 2008	Message Posted: Feb 6, 2012 8:47:29 PM Ignore livable1 Report Abuse strange things happening
aquarinut Champion Author British Columbia Posts:1,178 Points:272,970 Joined:Jul 2011	Message Posted: Feb 6, 2012 8:02:03 PM Ignore aquarinut Report Abuse Hope some of that profit goes back to the taxpayers..... (Laugh Out Loud) If the taxpayer bailed them out... they should be one of the first ones paid back. Oh wait... IF!!!! they pay.... they pay the GOVERNMENT back so odumma can support another expensive, failing, alternative energy investment!!!
ExplorerWA Champion Author Washington Posts:2,227 Points:431,540 Joined:Feb 2011	Message Posted: Feb 6, 2012 7:58:43 PM Ignore ExplorerWA Report Abuse Interesting to see the report. The Japanese auto makers are not back in the market at 100 percent yet. So time will tell.
IwanFL Sophomore Author Gainesville Posts:224 Points:80,430 Joined:Dec 2011	Message Posted: Feb 6, 2012 6:52:59 PM Ignore IwanFL Report Abuse cool
BuckyTJones Champion Author Salt Lake City Posts:3,083 Points:684,235 Joined:Mar 2010	Message Posted: Feb 6, 2012 6:33:30 PM Ignore BuckyTJones Report Abuse How long before the next bail out? Now they seen how easy it was, it will be easier the next time.
schatzila Champion Author Los Angeles Posts:3,222 Points:675,090 Joined:Jun 2010	Message Posted: Feb 6, 2012 6:02:31 PM Ignore schatzila Report Abuse Time to repay the loan.
wentout Rookie Author Cleveland Posts:40 Points:77,755 Joined:May 2011	Message Posted: Feb 6, 2012 5:41:55 PM Ignore wentout Report Abuse Agree with previous replies - "pay us back"
esq262 Champion Author Asheville Posts:1,170 Points:293,590 Joined:Jul 2011	Message Posted: Feb 6, 2012 5:19:56 PM Ignore esq262 Report Abuse Good for them. They should thank us all by paying our money back.
alterman156 Champion Author New York Posts:5,595 Points:1,191,700 Joined:Dec 2008	Message Posted: Feb 6, 2012 5:12:17 PM Ignore alterman156 Report Abuse Interesting how GM can go from being in bad shape to record profit. Something is very fishy there at GM.
baddog58 Champion Author Texas Posts:1,123 Points:580,975 Joined:May 2007	Message Posted: Feb 6, 2012 4:25:14 PM Ignore baddog58 Report Abuse Don't think I will be 'showing my appreciation' in November, not even if a certain someone does an about-face and forces GM to repay our bail-out money.
07skydriver Champion Author Ohio Posts:1,436 Points:626,305 Joined:Feb 2009	Message Posted: Feb 6, 2012 4:09:14 PM Ignore 07skydriver Report Abuse When Dubya left office, american car manufacturers were on thier backs with all four legs straight up. Most everyone lost big chunks of thier IRA's and many lost thier homes. The economy is not as bad now as the GOP would like you to believe. You can show your appreciation in November or vote for mitt, a guy that makes tax laws to benefit himself and his buddies.
nels1jac Veteran Author Minnesota Posts:394 Points:299,100 Joined:May 2011	Message Posted: Feb 6, 2012 3:38:24 PM Ignore nels1jac Report Abuse Now pay back your loan from us the taxpayer!
playtimeCLE Champion Author Cleveland Posts:6,450 Points:1,181,625 Joined:Nov 2008	Message Posted: Feb 6, 2012 3:10:42 PM Ignore playtimeCLE Report Abuse Good for them. Now they can pay the taxpayers back with interest.
teafortwo Champion Author Washington Posts:16,942 Points:1,022,605 Joined:Feb 2009	Message Posted: Feb 6, 2012 2:56:04 PM Ignore teafortwo Report Abuse BIG OIL & GAS love us A lot of companies could make a record profit if they could just write off all of their debt. Same goes for individuals :0\| BIG OIL & GAS love us
Tacodan All-Star Author Cincinnati Posts:855 Points:303,775 Joined:Apr 2011	Message Posted: Feb 6, 2012 2:25:19 PM Ignore Tacodan Report Abuse pay us back!
buckets42 All-Star Author New Jersey Posts:988 Points:190,870 Joined:Oct 2011	Message Posted: Feb 6, 2012 2:12:27 PM Ignore buckets42 Report Abuse They should post it into the taxpayer's bank accounts.
Night Owl Champion Author Toronto Posts:5,765 Points:1,431,650 Joined:Jul 2004	Message Posted: Feb 6, 2012 2:06:32 PM Ignore Night Owl Report Abuse GM should pay back all the money taxpayers gave it to survive. Shame on GM.
MotherNatureCT Sophomore Author Connecticut Posts:193 Points:58,725 Joined:Dec 2011	Message Posted: Feb 6, 2012 1:57:19 PM Ignore MotherNatureCT Report Abuse Hope they enjoy the money we lost on their stocks when they tanked! Yes, our choice to invest but this news makes me sick...
Papa_Gallo All-Star Author Houston Posts:912 Points:234,775 Joined:Mar 2011	Message Posted: Feb 6, 2012 1:53:22 PM Ignore Papa_Gallo Report Abuse Amazing what you can do when you screw your creditors and suppliers and ignore contract law. I too would be wealthy if I did not have to pay my car loan, student loan, and mortgage.
Jeff1944 Champion Author South Dakota Posts:3,476 Points:771,695 Joined:Jan 2010	Message Posted: Feb 6, 2012 1:51:15 PM Ignore Jeff1944 Report Abuse That is great news as a result of our bailout money.
alwaysridin88 Veteran Author Ohio Posts:276 Points:232,100 Joined:Jul 2011	Message Posted: Feb 6, 2012 1:40:47 PM Ignore alwaysridin88 Report Abuse Now if only GM would pay back all of the $50 billion it needed for the bailout or sell us cars at a fraction of the cost since we are the majority stockholders. GM may say they paid it back, but check out this site for another angle--http://www.foxnews.com/opinion/2010/04/23/did-general-motors-really-repay-taxpayer-bailout/
humblepie Champion Author Toledo Posts:17,188 Points:2,005,320 Joined:Mar 2006	Message Posted: Feb 6, 2012 1:40:21 PM Ignore humblepie Report Abuse a total load of obama...
mwc407 All-Star Author North Carolina Posts:807 Points:334,340 Joined:Jan 2011	Message Posted: Feb 6, 2012 1:37:59 PM Ignore mwc407 Report Abuse This is a WIN for the taxpayers ONLY IF GM is forced to pay back every penny of the bailout, PLUS interest. Sadly, that probably isn't going to happen - but if they are that much in the black then in absolutely should!
Joeski1 Champion Author New Jersey Posts:7,437 Points:1,375,785 Joined:Dec 2004	Message Posted: Feb 6, 2012 1:17:06 PM Ignore Joeski1 Report Abuse rightly they should pay 100% of the cash back plus 4% interest... I think that's what the IRS requires of most lenders financing.... but in this case, it's what is morally correct so it likely won't happen
kx250 Champion Author Michigan Posts:1,396 Points:766,725 Joined:Oct 2008	Message Posted: Feb 6, 2012 1:14:06 PM Ignore kx250 Report Abuse Good, where's the poly-ticians with some kahunas to get our money back?