Skip to comments.GM profits plunge on recall costs
Posted on 07/27/2014 5:59:43 AM PDT by TwelveOfTwenty
General Motors said Thursday that its second-quarter earnings fell 85 percent, as recall costs chopped $1.5 billion from the bottom line.
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Funded by the tax payers, I'm sure.
Time to cut the line and let the USS GENERAL MOTORS drift into oblivion.
Obama gave it to the unions to run, and just like Detroit, they’ve let it die on the vine.
A once thriving company under free market capitalism, now relegated to the scrap heap of socialist leftovers.
I’ll never buy another GM vehicle.
No one wanted GM (US taxpayers included).
Did they just write off all the recall costs upfront? I would think they have barely scratched the surface getting the Cars back into the Dealers for the fix.
(1) I believe they would have lost money anyway. The recalls cover that up.
(2) Time for another taxpayer bailout?
Some things never change. Yes it would seem Chrysler saved Fiat and not the other way around.
So is it true the infamous bailout money that was completely “repaid” (back to the taxpayers) in reality funded overseas GM subsidiaries?
Jeep and Ram (Chrysler and Dodge are irrelevant) still aren’t enough to bail out mismanaged Fiat. Putting two weak companies together does not create one strong company, one industry insider observed.
Mismanaged Fiat may soon be acquired by VW Group, despite the usual denials. The goofball head of Fiat hints that he would prefer Asian help.
AND GM now is in debt to the tune of 50 BILLION. About as much as we bailed them out with. Won’t last long now. Especially if they try to sell VOLTS!
I celebrate every time I hear bad news on GM. Their corrupt bankruptcy was unacceptable, and I will continue to boycott that company forever. I won’t even rent a GM vehicle, let alone buy anything they make.
You know if the union goon workers were paid just a little bit more, none of these recalls would have happened.../ S
I would never own a GM product again. Even if I won one it would be flat-bedded to a Toyota dealer as a down payment on a FJ.
I may eventually be proven wrong, but I applaud the CEO Mary Barra now running GM as it appears she is doing the right thing by making GM own up to fixes that should have been addressed for years. But I still will never own a GM vehicle.
That's an overlooked point. I agree.