By Jehovah Johnson
August 28, 2008 -
The AP reports Bob Lutz' prediction that GM will be profitable by 2010. Well, almost. "Lutz stopped short of predicting when GM would return to profitability, but said if it can further reduce structural costs, get higher prices for small cars, and if the U.S. auto market recovers, its top executives say they hope to return to black ink in 2010." The Detroit News reports that Maximum Bob mentioned Uncle Sam's potential contribution. "[Lutz] also said GM and the other Detroit automakers would benefit from low-cost government loans to help them pay to update plants and speed up development of more fuel-efficient models consumers are demanding amid high gas prices."
Subscribe to New Content Alerts7 Comments on “ Bailout Watch 15: GM Back in Black by 2010 ”
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POWERED
August 28th, 2008 at 9:37 pm
Or if.
August 28th, 2008 at 9:40 pm
Yes.
If we somehow manage to do what we’ve steadfastly refused to even address for the past quarter-century at the same time the economy recovers and gas prices plummet to ten-year-low levels, then we’ll be fine.
And if I win the lottery, I can retire.
August 28th, 2008 at 11:10 pm
As my father once told me “Hope is not a strategy.”
August 29th, 2008 at 8:09 am
Yes, and the August numbers are just around the corner. The hard facts keep getting in the way of the hype.
August 29th, 2008 at 9:59 am
Gues you don’t need our tax money then since you will be profitable in 2010. Or is that that you will be profitting OFF our tax money that he is making this statement.
August 29th, 2008 at 12:23 pm
I’d have more faith if GM uses all its bail-out money to buy lottery tickets.
August 29th, 2008 at 12:30 pm
Yes, and the August numbers are just around the corner. The hard facts keep getting in the way of the hype.
Wait for September sales to show the real world post-leases. Then October, then November, then December. I think Wagoner should relieve Bob from all duties so he can focus full time on BS. He’ll need to become increasingly creative as time goes on. I expect the next turnaround plan any day now.