(sOrTa:) GM will turn a profit this year, not by sales of cars, but trucks...

Well, not by selling trucks, but by selling a whole Division!

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SOUTHFIELD, Michigan: General Motors, focusing on returning its auto operations to profit, agreed Thursday to sell a unit that made Chevrolet Kodiak commercial trucks to Navistar International.

Navistar said it would sell the Chevrolet and GMC medium-duty trucks through the automaker's dealer network in the United States and Canada. The truck maker said it would move production of the vehicles from Flint, Michigan, to a Navistar factory to be designated later.

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Wonder how GMAC/Ditech are doing? If they were involved in any sub-prime loans, they either have a lot of Real Estate on their hands, or they unloaded the bad securities (heh! "Securities!") before they went bad, in which case, GMAC made a profit, too...)

I guess since they can't make it selling cars, they have to slough off business units to make money.

At least the Shareholders will be happy!

Reply to
Hachiroku
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But not the taxpayers. Same old, same old.

Reply to
F.H.

GMAC is doing very, very poorly.

Actually, GM did pretty well selling cars last year. If it had not been for the massive losses that GMAC had on the books, they might have turned a profit.

--scott

Reply to
Scott Dorsey

Or the carbuyers!

Reply to
Hachiroku

But Hachi, you're a conservative. Surely, you subscribe to W. H. Vanderbilt's adage, don't you?

Reply to
tak

Here's the key phrase:

General Motors, focusing on returning its auto operations to profit...

Guess they didn't so all *THAT* well...

If it had not been

Reply to
Hachiroku

Who?

"...the trouble with Capitalism is Capitalists..."?

or,

"There's one born every minute..."? Ooops, wrong person! ;)

Reply to
Hachiroku

You getting lazy or what?

"The public be damned"

On a more serious note, GM could pull a PENNCENTRAL, spin off the unprofitable divisions into bankruptcy, and milk the profitable ones for all they're worth.

Reply to
tak

Couldn't find that one!

I was in a hurry. Had to get my Subaru to the shop (on a flatbed...)

Only works with choo-choos...?

Reply to
Hachiroku

Taps or is it making a comeback?

IIRC, PennCentral lasted for 25 or so years as a real estate holding co.

Reply to
tak

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