Comments on: GM’s Financials

By: JB

JB — Thu, 21 Feb 2008 21:41:55 +0000

“Of course nearly all of that loss was due to the writedown of $38.6 billion that was given to the autoworkers union to pay for future healthcare expenses.”

Not accurate. The big write-down was related to deferred income taxes credits that were deemed unsuitable for carrying on the balance sheet.

By: RB

RB — Thu, 14 Feb 2008 02:27:31 +0000

The GM loss is mainly due to a write-down of the value of future tax credits. That is a serious matter, as it reflects the judgment of independent experts that GM will never be profitable enough in the future to have income that can be covered with the tax credits, and the loss of a big asset affects GM’s credit and ability to borrow. On the other side, it has little or nothing to do with unions or employees, the present article notwithstanding. Most everything here is right, but occasionally something is not quite so.

By: Haid D' Salaami

Haid D' Salaami — Thu, 14 Feb 2008 00:54:02 +0000

He is the son of Hugo Chavez…Number 21…Fat Boy…

By: Haid D' Salaami

Haid D' Salaami — Thu, 14 Feb 2008 00:44:30 +0000

NZDavid,
Relax, and do not pay attention to what Hugo Chavez said in reference to what is happening with Exxon Mobil. First, take China out of the equation; it will take almost two months for a drop of Venezuelan oil to reach China’s territory. 2nd, Chavez can say all he wants about the USA, the fact of the matter that as crazy as Hugo Chavez is, he knows that he needs the USA more than USA needs him. Venezuela oil is sooo complex, and heavy that to be processed it needs a very complex process, and the refineries that have the technology to refine Venezuela oil just happen to be located in the USA. Meaning, that the oil from Venezuela first is extracted from lake Maracaibo and then send to the USA to be refine and then back to Venezuela. So, without those refineries in the USA, there is no Venezuela oil.
Viva la Volt.

By: GM Love Pollution

GM Love Pollution — Thu, 14 Feb 2008 00:43:09 +0000

I sincerely think Bob Lutz should fired ASAP, he is NO GOOD!
I sincerely think Bob Lutz should fired ASAP, he is NO GOOD!
I sincerely think Bob Lutz should fired ASAP, he is NO GOOD!
I sincerely think Bob Lutz should fired ASAP, he is NO GOOD!
I sincerely think Bob Lutz should fired ASAP, he is NO GOOD!
I sincerely think Bob Lutz should fired ASAP, he is NO GOOD!

His arrogance and stupidity toward HEV led to GM’s bad public image, especially in San Francisco area. 85% people here buy foreign cars, out of those who buy sedans, that figure is about 96%, you hardly see any new American cars, a few you see are probably fleet vehicles! Fire Bob and Rick and bring good management (from Japan) to run GM!