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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (564359)5/3/2010 2:27:53 PM
From: tejek  Read Replies (1) of 1577031
 
No, what I was saying is that most companies that filed BK last year would still be in BK. However, thanks to the prowess and finesse of our president, GM is out of BK and on the road to recovery.

Well, it does help when the President can wave his hands and tell the debt holders to go f*ck themselves.

That would be the BK judge, not the president.

> Sales up 20% on models they intend to keep going forward is not impressive to you?

Look, I'm an accountant. Financial statements matter. Until I've seen financial statements that show signs of life, the rest of it is just hyped PR. Particularly in light of their bullshit about having paid off their government debts.

No one is playing with the truth. GM paid off the direct gov't loan of $7 billion. Now they have to take the gov't out of its shares. That will happen when they do their IPO. One auto analyst is suggesting that GM will be worth around $70 billion by the end of the year. An IPO of that magnitude should pretty much get the gov't out of its GM shares. This whole maneuver has been orchestrated very carefully. Whitacre, the new CEO, was chosen for his excellent resume and his experience in turning companies around. Nothing insures success like competency.

When that bogus repayment was announced you were here pumping it the same way you are today. At the time I pointed out that based on their financial statements they had lost 4 billion after coming out of Ch.11. AFAIK, there have been no newer financials released.

Then where did they get the money?

Maybe GM is doing great. I will not be able to determine that until I see the financial statements.

I thought they had already reported their quarter? No?
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