For decades, big corporate profits were blasted as a sign of greed, especially by unions. GM changed all that. When a sheep dipped GM, free of legacy finance costs, and not paying taxes due to losses a normal company would not have been able to carry over after a bankruptcy, declared a record $7.6 billion profit in 2011, chests of GM boosters swelled with pride, as if the profits had been theirs. A year later, there is $2.7 billion less to be proud of. GM’s European millstone, Opel, continues to drag the company down. Opel’s operative losses more than doubled to $1.8 billion for all of 2012. (Read More…)
Posted in Enthusiasm, Industry, Inside The Big Three, News Blog
Tagged as Bertel Schmitt, financials 2012, GM, Opel
Tagged as Bertel Schmitt, financials 2012, GM, Opel
Recent Comments
PrincipalDan - Get a CPO Acura RL, then you’ll be guaranteed to never pull up next to yourself at a stoplight. (Seriously, I believe I’ve seen a grand total of...
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mkirk - Sweedish Ambassador to the UN has a girlfriend on Long Island?
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