GM is Back!!! - ModernCamaro.com - 5th Generation Camaro Enthusiasts
Automotive Industry News For General Auto Industry news other than Camaro.

Reply
 
LinkBack Thread Tools
post #1 of 11 Old 07-26-2006, 03:48 PM Thread Starter
 
Join Date: Jan 2006
Posts: 863
 
GM is Back!!!

OK, well maybe not all the way, but they did get a really good Q2 earnings report today and the stock is up again. $2.03 profit per share for Apr-Jun not including one-time charges due to the worker buyouts, etc.

Source: MSN Money: Boeing's loss offsets GM gain

Quote:
GM surprises with higher operating profit

General Motors reported sharply higher second-quarter sales, crushing Wall Street's expectations.

GM reported operating earnings, excluding one-time charges, of $2.03 per share, nearly four times higher than the Reuters Estimates consensus of 51 cents per share. Overall revenues came in at $54.4 billion, with automotive revenues of $44.91 billion, according to Briefing.com. The Reuters Estimate consensus was for revenues of $42.38 billion.

The company benefited from strong sales of new sport utility vehicles, which sold at close to full sticker price, CNBC's Phil LeBeau reported. Latin American auto sales were also very strong.

Including charges related to buyouts of factory workers, the automaker actually lost $3.2 billion in the second quarter, or $5.62 per share.

GM also said it is raising its North American cost savings forecast to $9 billion from $8 billion this year. The strong sales give GM CEO Rick Wagoner some of the evidence he needs that the company's turnaround plan has some traction, LeBeau said.
Chris 96 WS6 is offline  
Sponsored Links
Advertisement
 
post #2 of 11 Old 07-26-2006, 04:04 PM
ModernCamaro.com Founder / Former Camaro Disciple
 
OctaneZ28's Avatar
 
Join Date: Jan 2006
Location: Chicagoland, IL
Posts: 11,842
           
The turnaround is definitely on, things are looking good for the future!

Remember, the more profit they make, the faster we can see our beloved car be a reality!

2001 Camaro Z28 H/C/I LH6 A4 3.42

Like ModernCamaro.com on Facebook!
OctaneZ28 is offline  
post #3 of 11 Old 07-26-2006, 04:20 PM
Supporter of common sense
 
OverAnxious's Avatar
 
Join Date: Mar 2006
Location: Detroit, Michigan
Posts: 9,152
  
Good news! Who needs Nissan

Joe :: Over Anxious 67 Camaro RS/SS L78
5thgenblog.com // Michigan Classics
Chevrolet Camaro in Transformers // My ebaY auctions

Hot Rod Search Google searches for gearheads!
OverAnxious is offline  
 
post #4 of 11 Old 07-26-2006, 08:02 PM
Senior Member
 
Gonna be a 5th gen owner's Avatar
 
Join Date: Mar 2006
Location: Dixon IL
Posts: 861
 
Garage
ditto!
Gonna be a 5th gen owner is offline  
post #5 of 11 Old 07-27-2006, 06:39 PM
Supporting Super Moderator
 
LorcinLS1's Avatar
 
Join Date: Jan 2006
Location: New Orleans, LA
Posts: 2,416
 
I sure hope the nissan thing is dead, I can't stand nissan.


2010 Camaro RS SS LS3 (Bumble Bee) Vin#192 & 8 others made by GM and one Christine
LorcinLS1 is offline  
post #6 of 11 Old 07-27-2006, 06:43 PM
Member
 
LT1SS's Avatar
 
Join Date: Jan 2006
Location: Nawlins
Posts: 179
 
Quote:
Originally Posted by LorcinLS1
I sure hope the nissan thing is dead, I can't stand nissan.
That's funny, Doug told me that you were trading in the Goat for a new 350Z............

Mike
'97 SS #2796 Most Chevy & SLP options. Slightly faster than stock.
'09 Silverado Z71 Crew Cab
LT1SS is offline  
post #7 of 11 Old 07-27-2006, 10:39 PM
Member
 
gavin's Avatar
 
Join Date: Jul 2006
Posts: 455
 
Whats This Nissan Thing?
gavin is offline  
post #8 of 11 Old 07-28-2006, 12:10 AM
Member
 
LT1SS's Avatar
 
Join Date: Jan 2006
Location: Nawlins
Posts: 179
 
Talk of a merger of GM & Nissan, basically Nissan (and I think another company) would own 20% of GM. Ream thru some of the threads for details.

Mike
'97 SS #2796 Most Chevy & SLP options. Slightly faster than stock.
'09 Silverado Z71 Crew Cab
LT1SS is offline  
post #9 of 11 Old 07-28-2006, 11:52 AM
Member
 
gavin's Avatar
 
Join Date: Jul 2006
Posts: 455
 
oh icic
gavin is offline  
post #10 of 11 Old 07-28-2006, 12:19 PM
ModernCamaro.com Founder / Former Camaro Disciple
 
OctaneZ28's Avatar
 
Join Date: Jan 2006
Location: Chicagoland, IL
Posts: 11,842
           
GM & Nissan/Renault are in the midst of a 90-day study about a possible alliance.

Wagoner doesn't want it and the board is backing him pretty much.

I think this alliance story will be over shortly after the study is complete.

2001 Camaro Z28 H/C/I LH6 A4 3.42

Like ModernCamaro.com on Facebook!
OctaneZ28 is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the ModernCamaro.com - 5th Generation Camaro Enthusiasts forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
back in an f-body flyinglow57 4th Generation F-Body 12 01-02-2007 01:11 AM
SS427 5th gen OverAnxious 5th Generation Camaro News & General Discussion 9 06-26-2006 08:11 AM
Muscle cars are back! OverAnxious 5th Generation Camaro News & General Discussion 2 05-31-2006 06:13 PM
FREEP: Car styles "heritage", not retro Chris 96 WS6 5th Generation Camaro News & General Discussion 0 04-26-2006 06:47 AM
new here and back in Pittsburgh Hoodscoop New Member Introductions 11 02-27-2006 01:18 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome