2nd quarter results

[Newbiewar]

does anyone know when the financial reports are due?

[GXT]

does anyone know when the financial reports are due?

August 1, 9:30 AM ET according to GM's website.

[ZL-1]

does anyone know when the financial reports are due?

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[Newbiewar]

hrmm that wasnt there when i looked last time... all it said was the confrence call for julys sales...

ohh well...

thanks for the info, will be looking forward to it... estimates so far are around 1.6 billion loss, hopefully they are better then that...

[GXT]

hrmm that wasnt there when i looked last time... all it said was the confrence call for julys sales...

ohh well...

thanks for the info, will be looking forward to it... estimates so far are around 1.6 billion loss, hopefully they are better then that...

I had been watching for it as well. The event was added very recently... almost like they didn't want people to know about it . Sounds like it should be pretty ugly.

Sounds like it could be several billion...

http://www.bloomberg.com/apps/news?pid=206...gM&refer=us

Edited July 31, 2008 by GXT

[Newbiewar]

I had been watching for it as well. The event was added very recently... almost like they didn't want people to know about it . Sounds like it should be pretty ugly.

Sounds like it could be several billion...

http://www.bloomberg.com/apps/news?pid=206...gM&refer=us

i really am confused sometimes by gm's finacial statements...

they never show any kind of consistancy... okay so GMAC said they had a loss of 2.6 billion today... so GM gets to take 1.3 against whatever they got on opperational side...

but if you look at 3rd quarter of last year GM had 6 billion in profit from operational... but a 6 billion dollar loss from rescap. so... then other quarters gm's shows strong points in finance, and weak in operations... its mind boggling... with the strike supposidly costing GM 2 billion, i think that was already seen in the 1st quarter, they should have made up for some of production lost in the first quarter, providing a decent revenue... so that should look good...

umm other then that, i see no reason why GM cant be posting profits... they didnt have any one time expenses this quarter besides the 200 million to american axel... that im familiar with, they didnt sell any assets that would post a loss in the investing cash...

other then GMAC's 2.6 billion and the strike, i see no reason to have terrible financials... i think they should be good...

[Robert Hall]

i really am confused sometimes by gm's finacial statements...

they never show any kind of consistancy... okay so GMAC said they had a loss of 2.6 billion today... so GM gets to take 1.3 against whatever they got on opperational side...

but if you look at 3rd quarter of last year GM had 6 billion in profit from operational... but a 6 billion dollar loss from rescap. so... then other quarters gm's shows strong points in finance, and weak in operations... its mind boggling... with the strike supposidly costing GM 2 billion, i think that was already seen in the 1st quarter, they should have made up for some of production lost in the first quarter, providing a decent revenue... so that should look good...

umm other then that, i see no reason why GM cant be posting profits... they didnt have any one time expenses this quarter besides the 200 million to american axel... that im familiar with, they didnt sell any assets that would post a loss in the investing cash...

other then GMAC's 2.6 billion and the strike, i see no reason to have terrible financials... i think they should be good...

I suspect a lot of the numbers are faked.... they probably do a lot of creative accounting.

[GXT]

umm other then that, i see no reason why GM cant be posting profits... they didnt have any one time expenses this quarter besides the 200 million to american axel... that im familiar with, they didnt sell any assets that would post a loss in the investing cash...

other then GMAC's 2.6 billion and the strike, i see no reason to have terrible financials... i think they should be good...

Because the only profitable vehicles they had are no longer profitable. Now they are resigned to selling all their vehicles at a loss. I don't recall where I saw the number, but I believe they lost ~6 Billion on continuing automotive operations. They have mountains of debt that continue to grow and earnings are WAY down.

Certainly not all the quarters will be this bad, but they really have no hope of coming out from under the weight of their situation. Without a government bailout it sounds like they have 1 - 1.5 years before they are bankrupt.