Here's a big part of GM's current success.
 jd

 GM Sales: Bloomberg report.

 79% of GM’s sales last month was government purchased July 12th,
 2012 Remember how Obama keeps telling us how he saved GM, and how our
 economy
 is getting better, it seems the car company he bought is being saved
 by Govt
 employees using our tax money to buy new cars. 79% of GM’s sales
 last month
 was government purchased.GM <http://purchased.gm/’s sales figures for
 last month were the best
 since 2008 , up 16% for the month of June.

 YIPPEE! Well, wait just a minute. It seems that those rosy sales
 figures are
 due primarily to a 79% increase in fleet sales to the U.S.
 government in June. That’s right. Our tax dollars are being used to
 pump up
 GM’s sales figures ahead of next month’s quarterly report so that Dear
 Leader
 can point to Government Motors as a huge success. The incestuous
 relationship
 between GM, the UAW and the Regime has never been more glaringly
 apparent.

 I’ve said it before and I’ll say it again. GM is unsustainable without
 government subsidies and will ultimately go bust again, taking
 billions of
 taxpayer dollars down with it.We bailed out General Motors to the tune
 of $50
 billion. $30 billion of this is effectively a loss, mostly sunk into
 fattening the United Auto Workers union—fierce Obama
 supporters—while the
 actual bondholders were shown the elevator shaft.


 Meanwhile, as News Busters reports, “We the Taxpayers are still stuck
 holding
 500+ million shares of GM stock. Which we need to sell at $53 per. Which
 debuted post-bankruptcy at $33 per. And which is currently trading
 at just
 over $20 per. Meaning we’ll lose about $15 billion.”But it gets better.
 Despite the overwhelming negatives, the tiny bright spot of positive
 June
 sales numbers is being heralded by Obama and the leftist press as
 proof the
 auto bailout was a “success.” Obama is now campaigning on the
 “success” of –
 the government buying cars from…the government’s car company. With our
 money.American vision says That’s like you setting up a lemonade
 stand for
 your kids. You buy them the lemons, sugar, cups and pitchers – and
 then buy
 most of the lemonade yourself. The pressure is on Government Motors to
 appear
 financially strong as this may be the last earnings report before
 November
 elections and sets the stage for how “successful” GM is. One of GM’s
 past
 tricks to help fudge earnings numbers has been to stuff truck inventory
 channels. Old habits die hard at GM. According to a Bloomberg
 report, “GM
 said inventory of its full-size pickups, which will be refreshed
 next year,
 climbed to 238,194 at the end of June, a 135 days’
 supply, up from 116 days at the end of May.” 135 days’ supply is
 huge, the
 accepted norm is a 60 day supply. The trick here is that GM records
 revenue
 when vehicles go into dealerships.

 Most of the folks on the list are Engineers, and should realize
 something is wrong with article. Oh what a minute, tt was edited to make
 things sound much worse.

 Takes less than two minutes to find the original report. A little longer
 with digging to getnumbers from the Wall Street Journal.

 I'm still pissed at the wholesale sell out to the Unions. I was a long
 time GM buyer, but never again.

 Today the owners of GM are:
 Canadian Govt 11.7%
 US Govt 61%
 UAW 17.5%

 They should have let them go bankrupt, and reorganized to a sustainable
 company. Nope took the equity of the share holders
 to pay off the UAW for their $1Billion campaign contributions in 2008.
 Grrrr.....


 Tom Walter

 The Dems don't talk about this. Lying by omission.
 They act like this is the greatest thing they ever did.
 Obama is the scam artist in chief.

 Paul Lamar


The new bankruptcy act of the mid 1980's provided that union contracts
could be dissolved and renegotiated in a Chap 11 reorganization
bankruptcy.  If Obama had let GM or Chrysler go bankrupt it wpuld have
been a Chap 11 reorganization, not a Chap 7 liquidation and the existing
union contracts would have been the first thing to go.  The union would
have been forced to accept a new contract at much lower wage and benefit
package.  Probably in line with Toyota's or even lower.  GM probably
would have been competetive if they had gone Chap 11.  But, you can see
why Obama baled them out.  The union would have lost their contract and
been forced into a lower one.

Van

Please tell us the sales to government of GM for say the last 10 years. There "must" be an increase in sales to justify your statements. To my humble recollection, GM has been the major supplier to government for decades.
John Hedblom

The Rotary Engine News Letter. Powered by Linux.
ACRE NL web site. http://www.rotaryeng.net
You Tube key word PaulLamar2
Copyright 1998-2012 All world wide rights reserved.