Ooops; More Bad News for The GOP – GM Making Money

[ChasC5]

GM posts $2 billion quarter profit, IPO next
GM posts $2 billion quarter profit, IPO next - Yahoo! News

DETROIT (Reuters) – General Motors Co posted a $2 billion third-quarter profit on Wednesday, driven by an accelerating turnaround in North America as it rushes to complete an initial public offering of stock set for next week.
The quarterly profit was the largest for GM since it emerged from bankruptcy in July 2009 and provides the last piece of financial data for investors evaluating the automaker's $13 billion IPO.

GM said it expected to post solidly profitable results for 2010, its first full-year profit since 2004.

A large part of that profit reflects lower operating costs and reduced sales incentives in GM's U.S. operations, which had posted deep losses in the run-up to its 2009 bankruptcy funded by the Obama administration.

"It obviously will bode well for the IPO," said Van Conway, chief executive at turnaround specialists Conway MacKenzie. "It's more proof that they have executed the turnaround -- I don't say completely because I wouldn't say that just a couple of quarters make (a turnaround)."

GM reported increased cash earnings in North America for a third consecutive quarter, with its international results flat to up slightly and a bigger loss in Europe.

[Peter Pan]

Why is this bad news? This bailout cost lots of supplier jobs, closed a few plants, probably needed and saved the almighty union workers

[ChasC5]

Originally Posted by Peter Pan

Why is this bad news? This bailout cost lots of supplier jobs, closed a few plants, probably needed and saved the almighty union workers

The Bush bailout cost lots of supplier Jobs?

[Peter Pan]

Originally Posted by ChasC5

The Bush bailout cost lots of supplier Jobs?

Obama did the bailout and changed the CEO, Wagner did need to go

[ChasC5]

Originally Posted by Peter Pan

Obama did the bailout and changed the CEO, Wagner did need to go

You may what to invest in a little timeline research … Bailout Plan were in play long before January 20th 2009.

But I do agree, both the Obama and Bush Administration were advised by and utilized the exact same Bailout Architects.