Saturday, March 12, 2011

Motoring Toward Recovery


General Motors made a significant profit for the first time in seven years. Employees will get profit-sharing bonuses. I'd call it good news, especially since the RWS™ called Obama's rescue efforts doomed to failure, a government takeover, communism, and even some bad things.


It was the first profitable year since 2004 for G.M., which became publicly traded in November, ending a streak of losses totaling about $90 billion.
In addition, G.M. said 45,000 union workers would receive profit-sharing checks averaging $4,300, the most in the company’s history.
“Last year was one of foundation building,” G.M.’s chief executive, Daniel F. Akerson,said in a statement. “Particularly pleasing was that we demonstrated G.M.’s ability to achieve sustainable profitability near the bottom of the U.S. industry cycle, with four consecutive profitable quarters.”


Haven't heard much from the RWS™ about this, and I can't imagine why.

Meanwhile, I'd like to point out that I used to own one of those '49 Caddies pictured above, and drove it, to multiple thumbs-up, on perfect days. Much as I loved it -- used to go to the garage just to open and close the doors, heavy they were, and chunked closed like a safe; my wife made a patchwork cover for it, complete with hole for the antenna and perfectly contoured for the pubescent fins -- I finally concluded I couldn't give it the attention and care it needed. I'm glad GM is back on its feet, but they'll never make a car as solid as that again; and most certainly never with that back seat like your grandma's couch.

The gas cap was under the left tail-light lens, which popped up.

2 comments:

Frank Drackman said...

Your Driving a 49'?? figured you'd moved up to a 51' or 52 by now...
$4.7 Billion Profit?????
pretty impressive...
ummm except that GM got NINE POINT SEVEN EFFING BILLION DOLLARS in bailouts.
If Obama(Peace be upon Him) would give ME $9,700,000,000 I'd make a profit too. or maybe not, just spend a billion on fast women, fast cars, and fast dogs.
GREYHOUNDS, they race em down south, you can bet on em' just like it was Vegas or somethin...
The other 8.4 billion I'd probably waste
Thats ALOT of money, for instance you could get 99,700,000 100 Dollar Bills to light Cigars with..

GM Sucks, and I own 2 of em..
My 08' ZO6 is already leaking oil, not the quart/2,500 miles my 95 Z28 does, but give it another 180,000 miles and i'm sure it'll catch up.
and they've only been making Chevy small block V-8s for 56 years, you'd think theyd figure out how to make a rear main seal that doesn't leak more than Julian Ansange...
I know, its like your constantly changing your oil, so you've got that going for you.


Frank

Sid Schwab said...

Oh, I get it. You're pointing out that loaning GM money involved loaning them money. I hadn't thought of that.

My high-school graduation present from my uncle was the use of a brand-new 1962 Corvette for prom weekend. Until I drove an NSX, and then a 911 turbo, it was the high point of my driving experiences. I felt like dropping my date off at the dance and keeping on driving. We buzzed to the Oregon coast the next day, though.

I'd happily take your Vette off your hands, oil leak and all.

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