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

Dec 27, 2007 9 Replies

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Hachiroku $B%O%A%m%/(B 18 years ago

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!

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F.H. 18 years ago

But not the taxpayers. Same old, same old.

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Scott Dorsey 18 years ago

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

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Hachiroku $B%O%A%m%/(B 18 years ago

Or the carbuyers!

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tak 18 years ago

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

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Hachiroku $B%O%A%m%/(B 18 years ago

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

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Hachiroku $B%O%A%m%/(B 18 years ago

Who?

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

or,

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

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tak 18 years ago

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.

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Hachiroku $B%O%A%m%/(B 18 years ago

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...?

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tak 18 years ago

Taps or is it making a comeback?

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

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