Funny Papers

[Guest buickman]

From the Annual Report, a disclaimer that the financial statements are not credible.

"General Motors' management is responsible for establishing and maintaining internal controls over financial reporting and disclosure controls. Internal controls over financial reporting are designed to provide reasonable assurance that the books and records reflect the transactions of General Motors Corporation and subsidiaries and that established policies and procedures are carefully followed.

During 2005 GM identified three material weaknesses in internal controls, relating to statements of cash flows, accounting for vehicles on operating lease with daily rental car entities, and impairment of foreign investments accounted for under the equity method. For further discussion, see Item 9A, Controls and Procedures, in GM's Annual Report on Form 10-K for the year ended December 31, 2005.

Based on our assessment, management has concluded that our internal control over financial reporting was not effective as of the end of the fiscal year to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with generally accepted accounting principles."

Signed,

G. Richard Wagoner

[Guest YellowJacket894]

Don't you have production of the newest Dunbar car to oversee?

[Guest buickman]

Proper accounting and accountability go hand in hand.

Buickman

[deftonesfan867]

Much like a bullet to your head.

[enzl]

SEC regs require this type of disclaimer when there has been a misstatement recently or the procedure for redoing the previous numbers is not yet completed.

Previous mistakes change all numbers going forward, thus resulting in the language you see in the annual report.

[Satty]

The funniest thing I've ever read in a newspaper was a story about a douchebag Buick salesman from somewhere in Michigan who was arrested after police caught him making out with an unidentified lover in a Pontiac Solstice.

[Guest buickman]

What's really funny is how the financial statements of the General Motors Corporation are virtually meaningless and you think it's some kind of joke.

Buickman

[DetroitNut90]

I don't find GM's financial statements a joke. Every company has an accounting oops every now and again. Ask me about work today, I'll tell you.

[Guest Josh]

Personal attacks abound, and a bullet to the head? How old are you?! You're just a sick kid that needs counseling.

[Flybrian]

Personal attacks abound, and a bullet to the head? How old are you?! You're just a sick kid that needs counseling.

177325[/snapback]

Please stop trolling this site in order to chastise people without contributing anything of your own.

Thank you.

[Guest Josh]

Please stop trolling this site in order to chastise people without contributing anything of your own.

Thank you.

177346[/snapback]

Go look at Sattys post, then come at me, Fly.

Go look at YellowJackets post, then come at me, Fly.

Two blatant posts that are meaningless. I've said countless times how I feel about Dollinger. He knows his $h!, he has an idea of what is going on. I'm sick of repeating it because then I'll be "gay" or "a homo in a Solstice" or gasp, next thing you know, I'll be the one deserving of the bullet in the head.

[Satty]

I'll say it again, you bring this $h! on yourself by being a douchebag.

[enzl]

What's really funny is how the financial statements of the General Motors Corporation are virtually meaningless and you think it's some kind of joke.

Buickman

177317[/snapback]

They are far from meaningless...and my only point was that the language contained therein was necessary and appropriate, given the accounting issues right now.

Are you a CPA now too? Or an S.E.C. expert?

Please go sell somebody a car and leave the intellectual heavy lifting to others.

[usonia]

From the friction that surfaced in this thread, there is obviously stuff going on behind the scenes that I'm clueless about. So, that makes me the perfect person to give an unsolicited judgement. Josh is right, on all counts.

Much like a bullet to your head.

176874[/snapback]

You started it and this was uncalled for.

The funniest thing I've ever read in a newspaper was a story about a douchebag Buick salesman from somewhere in Michigan who was arrested after police caught him making out with an unidentified lover in a Pontiac Solstice.

176874[/snapback]

This was way out of line.

Please stop trolling this site in order to chastise people without contributing anything of your own.

176874[/snapback]

To call Josh out, with no mention of the prior two posts is unfair and biased...and you're supposed to be an admin!!

[Guest Josh]

From the friction that surfaced in this thread, there is obviously stuff going on behind the scenes that I'm clueless about.  So, that makes me the perfect person to give an unsolicited judgement.  Josh is right, on all counts.

You started it and this was uncalled for.

This was way out of line.

To call Josh out, with no mention of the prior two posts is unfair and biased...and you're supposed to be an admin!!

177791[/snapback]

Thanks! So, Fly, what say you?

[Satty]

When BM goes away and Josh quits acting like a child who didn't get his way so he's trying to ruin everyone else's fun I'll quit on them both. But I doubt either will happen without a banning. If I pulled some of the crap over at the(supposed)gmsource that Josh pulls here, I'd be banned and rightfully so. Hell, I've seen Josh ban people (Rex Raider) for less.

[deftonesfan867]

I'm 26 and maybe saying that was crossing the line. However it's a far cry from the post made by BM. I never come in claiming to know it all and do nothing but redux the situation or post over and over again. Also if you don't like the way things are run around here then just leave. That simple.

[Guest buickman]

I never claimed to know it all, only stated that Return to Greatness would restore lost market share, lowering expenses while increasing profitability.

Buickman

[deftonesfan867]

You'r not the person im claiming that act's like they know it all.

[usonia]

I should apologize for interjecting myself into something that isn't any of my business. I guess it's just all the craziness going on in the world and my frustrating mood I've been in lately that pushed me post something.

I don't know buickman at all, and to be honest, over time, I think his posts have become repetitive and a little tiring. But, he's got his opinion and his supporters and they are all entitled to think whatever they want. I may disagree, but I wouldn't attack anyone because of it and I don't think personal attacks are ever necessary.

I like the give and take of discussion and I can respect and admire anyone with strong opinions backed up by logical arguments. If we can agree to disagree, all is good in my book. Having said that, if I don't like what someone says I just move on, or I don't read the thread to begin with.

The world sucks enough as it is. We don't have to make it worse.

Again, sorry for getting in the middle here....

[ShadowDog]

"As the C&G World Turns" - brought to you by, GM and its divisions, makers of fine automobiles and embarrasing fans.

Tune in next week when another meaningless report is distributed to the masses, only to be buried among the scratching cat-claws, hissy-fits and over-excessive amounts of personal pride that gets in the way of anything educational or informative.

YET AGAIN, WAY TO GO MEATHEADS! For crying out loud.

[Guest buickman]

I should apologize for interjecting myself into something that isn't any of my business.  I guess it's just all the craziness going on in the world and my frustrating mood I've been in lately that pushed me post something.

I don't know buickman at all, and to be honest, over time, I think his posts have become repetitive and a little tiring.  But, he's got his opinion and his supporters and they are all entitled to think whatever they want.  I may disagree, but I wouldn't attack anyone because of it and I don't think personal attacks are ever necessary. 

I like the give and take of discussion and I can respect and admire anyone with strong opinions backed up by logical arguments.  If we can agree to disagree, all is good in my book.  Having said that, if I don't like what someone says I just move on, or I don't read the  thread to begin with. 

The world sucks enough as it is.  We don't have to make it worse.

Again, sorry for getting in the middle here....

177917[/snapback]

Well said and appropriate.

[haypops]

scroll down to article on France

Dauch later clarified his comments saying he felt that the way the alliance was proposed was inappropriate adding that the Renault/Nissan alliance has clearly benefited both parties. That said, he's clearly in GM Chairman and CEO Rick Wagoner's corner.

"I think we need to give GM a chance to restructure," he said. "I think Rick Wagoner is one of the smartest men in this business."

[Guest YellowJacket894]

I have to ask, do you guys think this new Dunbar Daylight Super-Duper Sport Fly Like A Regal 1999 Edition LT will sell?

I think Toyota may have some problems...

[deftonesfan867]

I apologize to the admin's of this board as well as my fellow members of this awesome site. There was/is no need for my comments against other members. I've always prided myself on not getting into childish back and forth crap online and thats how I need to keep it. Won't happen again.

[Guest buickman]

I apologize to the admin's of this board as well as my fellow members of this awesome site. There was/is no need for my comments against other members. I've always prided myself on not getting into childish back and forth crap online and thats how I need to keep it. Won't happen again.

178289[/snapback]

Accepted, and thank you.

Buickman

[usonia]

I apologize to the admin's of this board as well as my fellow members of this awesome site. There was/is no need for my comments against other members. I've always prided myself on not getting into childish back and forth crap online and thats how I need to keep it. Won't happen again.

178289[/snapback]

Spoken like a man. If I could reach you, I'd shake your hand. You're a stand-up guy!!

[zhawk]

Back to the topic...

OK, so they put in a disclaimer that said an accounting error was made. It was required because of the error. That doesn't mean that the all of their accounting is not credible, it only means what it says, that an error was made and they admit they should have caught it.

Sheesh, not every statement is earth shattering, nor a sign of impending doom.

[Flybrian]

Thanks! So, Fly, what say you?

177823[/snapback]

Stop AIMing me with your paranoid irrationality.

-------------

The point here is this - Buickman has a right to express his opinions in a collected and rational manner, something he has been doing perfectly well as of late. Likewise, everyone else has the right to agree, respectfully disagree, or outright ignore what he's saying, just as you may with any other discussion.

That said, Mr. Dollinger is a grown man who is perfectly capable of defending himself against any disagreements or personal attacks. There is no need for fanboyism among any of the members.

I haven't had the chance to personally meet Mr. Dollinger, but over the boards and PMs, I can honestly say none of us give him the credit he deserves. Rhetoric aside, he is a man who has conducted himself well in accordance with this foum. He has also rolled with the punches like few I've seen, taking the abuse, smiling, and moving on. His passion and dedication for his cause is rooted in something deep, and regardless of your personal opinion on it, you must respect that level of persistance in the face of adversity.

Jokes and a little bit of humor is perfectly fine because its laughter that puts us in good spirits and allows us to persevere in troubled times, but let's leave the mean-spirited stuff in our own minds and not clearly cross over the bounds, suggesting bullets to the head and likewise.

Thanks.

Usonia,

I have my reasons for making my first post in this thread the way I did, namely because I don't have faith in the sincerity of the poster. Yes, I am and admin and it was my call to make, and if I'm wrong, its my cross to bear.

[Guest buickman]

Stop AIMing me with your paranoid irrationality.

-------------

The point here is this - Buickman has a right to express his opinions in a collected and rational manner, something he has been doing perfectly well as of late. Likewise, everyone else has the right to agree, respectfully disagree, or outright ignore what he's saying, just as you may with any other discussion.

That said, Mr. Dollinger is a grown man who is perfectly capable of defending himself against any disagreements or personal attacks. There is no need for fanboyism among any of the members.

I haven't had the chance to personally meet Mr. Dollinger, but over the boards and PMs, I can honestly say none of us give him the credit he deserves. Rhetoric aside, he is a man who has conducted himself well in accordance with this foum. He has also rolled with the punches like few I've seen, taking the abuse, smiling, and moving on. His passion and dedication for his cause is rooted in something deep, and regardless of your personal opinion on it, you must respect that level of persistance in the face of adversity.

Jokes and a little bit of humor is perfectly fine because its laughter that puts us in good spirits and allows us to persevere in troubled times, but let's leave the mean-spirited stuff in our own minds and not clearly cross over the bounds, suggesting bullets to the head and likewise.

Thanks.

Usonia,

I have my reasons for making my first post in this thread the way I did, namely because I don't have faith in the sincerity of the poster. Yes, I am and admin and it was my call to make, and if I'm wrong, its my cross to bear.

178462[/snapback]

Thanks Fly. I suppose that along the way we have all grown more mature and developed a better sense of mutual respect.

Buickman

[Guest YellowJacket894]

Just to ask, how was my posts about Buickman's Dunbar cars offensive?

Skip over this post if you so desire.

[Guest buickman]

No offense taken.

Buickman

[76ChevyTrucker]

Hmm, an accounting oops. To me that's nothing big. We all sometimes make ooops-es, its part of the game. How many times have you been accidentally shorted a few cents while getting lunch? I know I have several times and if its a slow time, I'll bring it up, otherwise, I just let it go because there are a lot bigger things to take care, of, like the eighty other hungry people behind me. Same basic story here. It was a mistake, it was admitted and recorded, time will pass.

[Guest buickman]

Hmm, an accounting oops.  To me that's nothing big.  We all sometimes make ooops-es, its part of the game.  How many times have you been accidentally shorted a few cents while getting lunch?  I know I have several times and if its a slow time, I'll bring it up, otherwise, I just let it go because there are a lot bigger things to take care, of, like the eighty other hungry people behind me.  Same basic story here.  It was a mistake, it was admitted and recorded, time will pass.

179215[/snapback]

Very true, but also do not forget that sometimes a relatively small incongruency may be indicative of an inherently larger discrepancy.

Buickman

Edited August 12, 2006 by buickman

[76ChevyTrucker]

Now that I agree with, but without proof, there's no point jumping the gun until something shows up right? That's kinda like getting a cramp in your leg and amputating it because you're afraid that you'll lose the ability to fully control that leg ever again.

[razoredge]

Wow...........and to think I missed out on this one..........lets see

Buickman posts a quote of some disclaimer, thats it, a qoute, nothing more

deftones, Satty and Yellowjacket verbally attack with some little topic free cuties

Josh tells them the shut up

and the administator attacks Josh........................

very congressional so far...........

Then usonia steps in with a great, to the point stance on the nonsence and had me cheering in the back ground when all of a sudden he gets limp, drops his stance and heads back to the corner.........also very new age American Stand your ground Dude its the foundation America was built on.

Buickman I cant believe the crap you will take and just keep on going and are so willing to forgive and forget or accept or whatever, it shows something, not sure what, its kinda rare so there might not be a term for it.

I dont know whats going on with Josh and I know its not the place or my business because its clearly "behind the scenes" crap. Thats said, at least Josh on occasions would contribute GM information, labor opinions and other real contributions and effort. Satty on the other hand rarely offers anything but strange humor and confuseing insults to specific demographics.

Never much cross to bare on screen Fly Im sure the burdon will be unnoticable. No, Im not being " fanboyism" on behalf of Buickman or Josh, Ive agreed and disagreeded with both. That one particular post, Fly was much better than your previous.

As for the TOPIC.....................didnt Rick Wagner recieve an awsome annual bonus in ?? 04 one of the years that was determined they had crooked the books to show profits when indeed they had not ?

and

Should we be surprised to hear other failing CEO's praise other failing CEO's when theres a "business adventure" at stake ?

[haypops]

Should we be surprised to hear other failing CEO's praise other failing CEO's when theres a "business adventure" at stake ? 

179823[/snapback]

You were waiting for Nelson Mandela maybe?

[razoredge]

You were waiting for Nelson Mandela maybe? 

179831[/snapback]

sorry dont know who that is ? so Im completely lost. I know I heard the name years ago but must not have been meaningful to me.

[Mr.Krinkle]

From the Annual Report, a disclaimer that the financial statements are not credible.

"General Motors' management is responsible for establishing and maintaining internal controls over financial reporting and disclosure controls. Internal controls over financial reporting are designed to provide reasonable assurance that the books and records reflect the transactions of General Motors Corporation and subsidiaries and that established policies and procedures are carefully followed.

During 2005 GM identified three material weaknesses in internal controls, relating to statements of cash flows, accounting for vehicles on operating lease with daily rental car entities, and impairment of foreign investments accounted for under the equity method. For further discussion, see Item 9A, Controls and Procedures, in GM's Annual Report on Form 10-K for the year ended December 31, 2005.

Based on our assessment, management has concluded that our internal control over financial reporting was not effective as of the end of the fiscal year to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with generally accepted accounting principles."

Signed,

G. Richard Wagoner

176384[/snapback]

and what exactly is your point?

maybe you could dumb it down a shade for us, or at least me.

[Guest buickman]

and what exactly is your point?

maybe you could dumb it down a shade for us, or at least me.

179866[/snapback]

Certainly, the point is that GM's financial statements are inaccurate per management's own admission. The relevance is that once again there is no one held accountable. The market share slide continues regardless of years full of promises. The stock continues to dwindle. The long term debt is beyond imagination. The credit ratings have tanked below where anyone would have believed possible. Still, in spite of conditions, the spin thickens, the blame is shifted, and the prospects are painted as promising. Yet those with any sort of memory recall Wagoner's projection of $10 per share earnings by mid-decade. Guess the question has become which decade?

Buickman

[Mr.Krinkle]

the quote you supplied was signed by richard wagoner. the guy in charge. pretty obviously someone is taking responsibilty.

[evok]

Certainly, the point is that GM's financial statements are inaccurate per management's own admission. The relevance is that once again there is no one held accountable. The market share slide continues regardless of years full of promises. The stock continues to dwindle. The long term debt is beyond imagination. The credit ratings have tanked below where anyone would have believed possible. Still, in spite of conditions, the spin thickens, the blame is shifted, and the prospects are painted as promising. Yet those with any sort of memory recall Wagoner's projection of $10 per share earnings by mid-decade. Guess the question has become which decade?

Buickman

179889[/snapback]

And, tell me how that differs from Ford?

[haypops]

sorry dont know who that is ? so Im completely lost. I know I heard the name years ago but must not have been meaningful to me.

179861[/snapback]

Nelson Mandela is the former president of South Africa who shocked the world with his kindness and forgiveness to the privious administration that imprisoned him for 26 years. The reference to him was my silly way of claiming that the CEO of American Axle standing up for Wagoneer is as good a recomendation as good be expected. Sorry about the vagueness.

[Sixty8panther]

Much like a bullet to your head.

Please stop trolling this site in order to chastise people without contributing anything of your own.

I'll say it again, you bring this $h! on yourself by being a douchebag.

This site just sank to all all time low. This thread is

disgraceful and you're making GM fans looks like

complete idiots. I don't know what this whole Josh

thing is all about and I don't care, I don't want to

hear abotu it in every god damn thread though.

I thought we're supposed to be discussing cars

here not WPB-Harry & Josh. WTF is wrong with

this place as of late?

Don;t forget to point out how I'm an asshole

because I left a note telling a Camry driving jerk

that his Toyota didn't belong amongst Corvettes

& '50 Cadillacs.

[razoredge]

Nelson Mandela is the former president of South Africa who shocked the world with his kindness and forgiveness to the privious administration that imprisoned him for 26 years.  The reference to him was my silly way of claiming that the CEO of American Axle standing up for Wagoneer is as good a recomendation as good be expected.  Sorry about the vagueness.

180065[/snapback]

OK, Nelson clicked in my head today..I remember Carlos Santana did a tribute to him. But I still couldnt figure out how it applied to this. I see what your were implying now. Thanks

Rick Wagoner did invest a million in shares last year. Even though I believe he recieved a 4 million bonus the year before. I figured that was a good show of commitment and faith. Ill give him credit for that......

or.......maybe he felt guilty ?

but........Ill give him the benefit of the doubt. They have given good effort with much of the new product. I seem to have less problems with most of the new product than some around this site. Sooner of later we are going to have to forget about late 90's early 2000 decisions and look forward.

I will say...............at least Josh and myself did put our money where our mouth is. OC and Oldsmoboi have as well. Quite a few other members here, have been excited enough with the new product to purchase or at least seriously consider. So there is some amount of stimulation from the new product and it is just the beginning...............if GM can hold out. The problem still seems to be with perception, still being slightly trumped by the competition, no break from the mafia and just no turning the public away from Toyota.

I cant say its Wagoners fault sales arent higher and the public is still facing East. I actually have been concerned with some of the advertising and that leads to LaNeve (excuse me if I spelled that wrong). Im still a bit annoyed about him going public and openly saying something like "We had some poor product in the past" I saw him say it on Auto Line, some of the program was impressive but............you just dont say that stuff, GM had some great product many ignored or were unaware of.

As for the book keepers and bean counters fire them all !

[haypops]

I will say...............at least Josh and myself did put our money where our mouth is. OC and Oldsmoboi have as well. Quite a few other members here, have been excited enough with the new product to purchase or at least seriously consider.

180302[/snapback]

My wife and I gave the baby a nice downpayment on a new ION. It has been flawless and after years of not getting the hang of driving, this car has changed her life.