Quote:
Originally Posted by SteveR
Al, the point is that GM is so inefficient that they would HAVE TO sell 17 million cars per year in order to stay afloat. It's no big secret that corporations cook the books. Last year GM wrote off $13+ billion in pension money (how's that for taking care of it's employees?) and called that profit. They DID NOT make $13+ billion in sales, they just called the write off a profit. Now same with the trade off of company percentages for debt. The lack of a debt becomes a profit. Did GM sell 6 million cars last quarter? You can only trade off write offs for debt to a certain point until the actual differential between sales to overhead costs comes out again when GM reports record losses again. Like the guy mentioned, GM will now apply for large bank loans and call that influx of unearned cash a profit as well.
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lol that reminds me of the old cartoon gag of two guys digging a hole and their throwing their dirt into the other guys hole
