Eisboch wrote:
"hk" wrote in message
. ..

DOW JONES NEWSWIRES

General Motors Corp. (GM) posted a stunning $15.5 billion second-quarter
net loss, as the auto maker piled up $9.1 billion in charges and
write-downs and suffered a deep drop in North American sales.

The company had warned in mid-July that it would post "a significant
second quarter loss." But the actual numbers were far worse than analysts
had expected, and point to the enormous challenges facing GM as buyers
turn away en masse from its most profitable offerings.

GM shares fell more than 7% in premarket trading to $10.20.

GM reported a net loss of $27.33 a share, compared with net income of $891
million, or $1.56 a share, a year earlier. Excluding items, the loss was
$6.3 billion, or $11.21 a share.

Revenue fell 18% to $38.2 billion.

Analysts surveyed by Thomson Reuters had been looking for a loss,
excluding items, of $2.62 a share on revenue of $44.57 billion.

GM's Latin American operation was a bright spot - profit rose to $445
million from $296 million. But Asia swung to loss and European profits
tumbled 94%.

Excluding charges, the North American business had a $4.3 billion loss as
revenue dropped by one-third to $19.8 billion, pushing market share down
to 20.2% from 22.7%.

A year ago, GM swung to a second-quarter profit as it relied on continued
strength in international operations and a slim profit in its core North
American automotive unit to dramatically improve its bottom line.

GM's earnings were also dented by a $1.2 billion loss from its 49% stake
in its GMAC LLC financing arm. Thursday, GMAC swung to a second-quarter
loss as it took a $716 million write-down on leases and recorded more
losses from its Residential Capital LLC unit.

Second-quarter cash levels fell to $21 billion at the end of the second
quarter from $23.9 billion at the end of the first quarter.

The dismal second quarter caps four consecutive years of disappointing
results, dating back to the beginning of 2005, when GM shocked Wall Street
with an abrupt string of deep losses. Since then, Chief Executive Rick
Wagoner has been racing to cut costs, slim down operations and remake the
vehicle portfolio.

*At the same time, Wagoner has invested heavily into emerging markets,
placing big bets in Latin America, Eastern Europe and Asia even as market
share dwindles at home.*

- - -

Any bets as to when GM will abandon manufacturing in the U.S. market?



No time soon.

Although dismal financial results, the bulk of the "losses" are write offs
and charges to re-tool for the manufacture of more smaller, fuel efficient
cars for the US market.

Sounds horrible, and I am not making light of the problems, but it's not as
bad as the media (and you) are making it out to be.

Eisboch


I am trying to figure out why Harry is relishing the fact that any
company is having a downturn.

It has a negative impact on individuals who have stock in the company,
retirees who depend on dividends for part of their income,
it has a negative impact on the employees and the local and/or
national economy.

I guess Harry just enjoys seeing others hurt.

"Reginald P. Smithers III, Esq." wrote
in message . ..


I am trying to figure out why Harry is relishing the fact that any company
is having a downturn.

It has a negative impact on individuals who have stock in the company,
retirees who depend on dividends for part of their income,
it has a negative impact on the employees and the local and/or national
economy.

I guess Harry just enjoys seeing others hurt.



I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch

Eisboch wrote:
"Reginald P. Smithers III, Esq." wrote
in message . ..

I am trying to figure out why Harry is relishing the fact that any company
is having a downturn.

It has a negative impact on individuals who have stock in the company,
retirees who depend on dividends for part of their income,
it has a negative impact on the employees and the local and/or national
economy.

I guess Harry just enjoys seeing others hurt.



I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch




Reggie is an idiot. I don't "relish" GM's bad news. It means more bad
news for its remaining workforce.

Thank god the Bush-GOP plan to "privatize" social security so
individuals could invest in the flim-flam game called the stock market
got nowhere.

"hk" wrote in message
. ..

Eisboch wrote:

"Reginald P. Smithers III, Esq."
wrote

I guess Harry just enjoys seeing others hurt.



I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch


Reggie is an idiot. I don't "relish" GM's bad news. It means more bad news
for its remaining workforce.

Thank god the Bush-GOP plan to "privatize" social security so individuals
could invest in the flim-flam game called the stock market
got nowhere.


Thank God most people realize they can't rely on social security alone in
their retirement.

Eisboch

Eisboch wrote:
"hk" wrote in message
. ..

Eisboch wrote:

"Reginald P. Smithers III, Esq."
wrote

I guess Harry just enjoys seeing others hurt.


I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch

Reggie is an idiot. I don't "relish" GM's bad news. It means more bad news
for its remaining workforce.

Thank god the Bush-GOP plan to "privatize" social security so individuals
could invest in the flim-flam game called the stock market
got nowhere.


Thank God most people realize they can't rely on social security alone in
their retirement.

Eisboch



Yeah, well that wasn't the point, was it...

Eisboch wrote:
"hk" wrote in message
. ..

Eisboch wrote:

"Reginald P. Smithers III, Esq."
wrote

I guess Harry just enjoys seeing others hurt.


I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch

Reggie is an idiot. I don't "relish" GM's bad news. It means more bad
news for its remaining workforce.

Thank god the Bush-GOP plan to "privatize" social security so
individuals could invest in the flim-flam game called the stock market
got nowhere.


Thank God most people realize they can't rely on social security alone
in their retirement.

Eisboch


Yeah, well that wasn't the point, was it...


Oh...and it's not that all corporations are bad all the time.

While HP's telephone customer service for its comsumer products now
sucks (it's been moved offshore and the phones are answered by
automatons who can only read off a script), there still are a few
thinking people employed at the company.

One of my cats has decided the top of my little HP color laser printer
is the best place to nap. The output tray at the rear of the machine
apparently was annoying him, so he bounced on it until he broke it off.

I sent an email to HP (I knew better than to call), and got a response
that a new tray was being sent to me gratis, but that I would have to
pay the $7 shipping charge. More than fair. They want a photo of the
cat, too.

"Eisboch" wrote in message
...

"hk" wrote in message
. ..

Eisboch wrote:

"Reginald P. Smithers III, Esq."
wrote

I guess Harry just enjoys seeing others hurt.



I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch


Reggie is an idiot. I don't "relish" GM's bad news. It means more bad
news for its remaining workforce.

Thank god the Bush-GOP plan to "privatize" social security so individuals
could invest in the flim-flam game called the stock market
got nowhere.


Thank God most people realize they can't rely on social security alone in
their retirement.

Eisboch

But those that don't become democrat/socialists. And then target the moneys
of those that saved. Taxation for redistribution of wealth
(institutionalized government theft).

Democrats promises are dangerous.

"hk" wrote in message
. ..
Eisboch wrote:
"Reginald P. Smithers III, Esq."
wrote in message . ..

I am trying to figure out why Harry is relishing the fact that any
company is having a downturn.

It has a negative impact on individuals who have stock in the company,
retirees who depend on dividends for part of their income,
it has a negative impact on the employees and the local and/or national
economy.

I guess Harry just enjoys seeing others hurt.



I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch


Reggie is an idiot. I don't "relish" GM's bad news. It means more bad news
for its remaining workforce.

Thank god the Bush-GOP plan to "privatize" social security so individuals
could invest in the flim-flam game called the stock market
got nowhere.


Historically the "market" returns an annual average 10% return. Is that
flim-flam?

"D.Duck" wrote in message
...

"hk" wrote in message

Thank god the Bush-GOP plan to "privatize" social security so individuals
could invest in the flim-flam game called the stock market
got nowhere.




Historically the "market" returns an annual average 10% return. Is that
flim-flam?


Please don't confuse this issue with facts.

Eisboch

"D.Duck" wrote in message
...

"hk" wrote in message
. ..
Eisboch wrote:
"Reginald P. Smithers III, Esq."
wrote in message . ..

I am trying to figure out why Harry is relishing the fact that any
company is having a downturn.

It has a negative impact on individuals who have stock in the company,
retirees who depend on dividends for part of their income,
it has a negative impact on the employees and the local and/or
national economy.

I guess Harry just enjoys seeing others hurt.



I sincerely don't think Harry wants anybody hurt.

He's in warm-up mode for November. Happens every four years.

Eisboch


Reggie is an idiot. I don't "relish" GM's bad news. It means more bad
news for its remaining workforce.

Thank god the Bush-GOP plan to "privatize" social security so individuals
could invest in the flim-flam game called the stock market
got nowhere.


Historically the "market" returns an annual average 10% return. Is that
flim-flam?

Oooops, sorry.