Bailout Watch 15: GM Back in Black by 2010

bailout watch 15 gm back in black by 2010

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 [s]potential[/s] 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."

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  • Jerry weber Jerry weber on Aug 29, 2008

    Yes, and the August numbers are just around the corner. The hard facts keep getting in the way of the hype.

  • Redbarchetta Redbarchetta on Aug 29, 2008

    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.

  • Blunozer Blunozer on Aug 29, 2008

    I'd have more faith if GM uses all its bail-out money to buy lottery tickets.

  • Mel23 Mel23 on Aug 29, 2008
    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.

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