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Federal Motors Posts $4.3 Billion Loss For First Year Under Obama



Apr 7, 2010 17 Comments ›› Pat Dollard

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Agencie French wussies:

General Motors posted a post-bankruptcy 2009 net loss of 4.3 billion dollars Wednesday but said it hoped to achieve profitability in 2010.

The new GM, which emerged from bankruptcy protection on July 10, achieved global revenues of 57.5 billion dollars and ended the year with net cash of one billion dollars.

“As the results for 2009 show, there is still significant work to be done,” Chris Liddell, GM vice chairman and chief financial officer said in a statement.

“However, I continue to believe we have a chance of achieving profitability in 2010.”

The net loss includes the pre-tax impact of a 2.6-billion-dollar settlement loss related to the United Auto Workers union retiree medical plan and a 1.3-billion-dollar foreign currency re-measurement loss.

“We are building the foundation that will allow us to return to public ownership,” Liddell said.

GM has completed fresh-start accounting — which includes determining the fair value of assets and liabilities — and will file its third-quarter and 2009 results with the Securities and Exchange Commission later Wednesday.

This is an “important step” in the process of preparing for an initial public stock offering, Liddell said.

“Going public will enable the company to invest in designing, building and selling the world’s best vehicles, attract the best people and access the capital markets,” the automaker said.

“One of the most important measures in establishing the foundation for going public is the company’s ability to return to sustainable profitability.”


  • http://www.dirtydozensbunker.com Sanders

    These people couldn’t even run a whorehouse. What makes them think they can run the biggest automaker in the world?

    • latheman

      if you cant make money selling booze and sex ya really are screwed up

    • BradW (the Infidel)

      the way they sell themselves and their votes, they are already running a whore house

  • The Sentinel at the Gate

    Guess the Obongo Fred Flintstone pedal car concept is not selling very well. Just wonder how much of MY GD TAX DOLLARS will now be spent on more research for public conveyance that no one wants to buy?

  • http://none gzero

    It will be hard to recover from the dead stench of
    the socialist takeover.

    • SgtJenz

      From the ashes the courageous will grow.

  • thrasymakhos

    Totally predictable. We will subsidize them until hell freezes over because they never did deal with the root causes of their fiscal nightmares and made to confront why they failed. They should have gone bankrupt, reorganized, shed the unions, and made to compete in the free market. Instead we have this ineffectual mess perpetuated by misguided and wrong-headed socialist policies.

  • GRIZZ

    Anyday the narcissist will will do a commercial for Gubmint Motors.
    Probably a truck commercial so he will appear to be a working man.Wearing a Carhart jacket with the tag still on it(so he can return it),and creased jeans(al bore)

    • thrasymakhos

      The very image of “The Child of Hope and Promise” in Carharts posing as a working man causes me to throw up in my mouth. Yeeech!

  • March

    And how did Ford do?

    http://media.ford.com/article_display.cfm?article_id=31920

    When you take money from the government and turn your company into a social experiment you can expect to lose true patriots.

    Rot in hell, GM.

  • Egfrow

    Ford just sold Volvo to Communist China for 1.8Bil. This is a cash cow for them Volvo is now under the RED STAR banner brand name. With a Cash healthy Ford, I expect them to push the sales advantage even harder.

    This leads me to believe that Government Motors will pass more stringent regulatory against internal combustion engine technology to give GM’s eco electric car division a big boost and it’s UAW Union share holders a boost for 2010. Watch out for even more restrictions.

  • LechWalesa

    Agencie French Pussies:

    OK you’re happy to copy it and tu sais ce qu’ils te disent les pussies, va fare enculo pédé

    • March

      Allez le trajet un godemiché, une clope.

    • TerryTate

      Dollard mentions french pussies, and look….
      One shows up.

      Dollard mentionne chattes français, et regardez ….
      Une montre.

  • CplUsmc

    “However, I continue to believe we have a chance of achieving profitability in 2010.”
    as long as you, the taxpayer, are paying for it.

  • Tom Beebe

    Buy Ford. It’s American owned. It’s president told the Senators who suggested he work for a buck a year that he was “happy where he was”. Pissed off Anderson Cooper; that ought to be good enough. Their products won both “Car of the Year” and “Truck of the Year” from Motor Trend. Screw Government Motors. Too big to fail? Huh ! The way our government is going, the USA may not be too big to fail. See you at the Tea Party Rally. An ex-GOP. Join Ron Paul. Think he’s nuts? read “Where Keynes Went Wrong” and find out where both Dems and GOP went wrong.

    • Jim D

      I agree with ya tom. Ive been a diehard chevy man for over 30 years.I presently drive a duramax. sadly my last one because I will not buy another chev as long as the government and union control the company. FUCK THEM!!!!! I Don’t agree with it I won’t support it.