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GM Makes Progress by "Only" Losing $115 Million
General Motors Corp. posted a significant improvement in its financial results Wednesday by reporting a $115-million loss for the third quarter of this year.

GM, the world’s largest automaker, said it would have been profitable in the quarter except for special charges primarily associated with the reorganization of bankrupt Delphi Corp., its largest parts supplier.

Excluding the charges, GM had adjusted net income of $529 million, or 93 cents a share, on revenues of $48.8 billion during the three-month period that ended Sept. 30.

The performance surpassed the consensus of Wall Street analysts who predicted GM would earn about 50 cents a share before charges.

“Our third quarter results again reflect significant progress in our fast-paced initiatives to turn around our business and create a company that is leaner, faster and positioned for long-term sustainable growth,” said Chairman Rick Wagoner.



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sold2earlysold2early - 10/25/2006 1:46:15 PM
+3 BoostDrop the Boost Up the Boost
GM, please stop teasing us and just die already.

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drew630drew630 - 10/26/2006 2:31:35 AM
+1 BoostDrop the Boost Up the Boost
Sorry man, GM is not going any where. GM will still be around for a long time to come.


lewissalemlewissalem - 10/25/2006 2:01:58 PM
+2 BoostDrop the Boost Up the Boost
Compared to Ford's losses this is nothing. I do feel that in some areas GM is doing right (Saturn, Cadillac), where Ford is way behind.

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skoobasamskoobasam - 10/25/2006 3:00:51 PM
0 BoostDrop the Boost Up the Boost
oh whew, only 115 mil. Atleast they're making progress... haha

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S4cabriofoxS4cabriofox - 10/25/2006 6:16:05 PM
-1 BoostDrop the Boost Up the Boost
Pocket change.

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huu76huu76 - 10/25/2006 9:55:20 PM
+4 BoostDrop the Boost Up the Boost
It's better than losing $4 billion. It wasn't long ago that VW and MB were bleeding pretty badly themselves (2005 I think). How quickly we become smug again.
Funny how MB starts to make money again just as Chrysler is beginning to stumble, a bit of a role reversal.

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huu76huu76 - 10/25/2006 9:56:40 PM
+2 BoostDrop the Boost Up the Boost
If you read into it more, they're doing alright if they have the same results next year. Just like Honda's profit dropped a little even with higher sales due to "one time" charges to their balance sheet.

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XYZZXYZZ - 10/29/2006 5:47:57 AM
+1 BoostDrop the Boost Up the Boost
i'm reminded of the story of the farmer selling $5 bills for just $1 on the street corner.

asked how he could get by doing this, sayeth he: "Well, i'll make a profit on the VOLUME!"

go, GM, go!


NeverfollowNeverfollow - 10/26/2006 7:35:52 PM
+2 BoostDrop the Boost Up the Boost
Given the current climate at GM, that number is a huge success. Keep up the good work Fritz!

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S4cabriofoxS4cabriofox - 10/29/2006 2:20:53 PM
+1 BoostDrop the Boost Up the Boost
Yes, progress is progress!

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