[0:02:51] ... guys beat these guys did they didn't die Fannie Mae Freddie Mac General Motors Chrysler Citigroup Bank of America these guys are all too big to -- all too big to fail yet. Let the system but ...
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[0:01:25] ... wagon with five apiece embattled cries -- picked up for awards. And General Motors which basically connect -- losses of -- Billion dollars picked up to. ...
[0:01:47] ... Ford and the anti US auto industry but these safety awards and GM's lower than expected losses. Might mean that the auto makers like the vehicles they produce a finally getting some sort of stability ...
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[0:03:12] ... state to take some land to turn over to. At least the General Motors. Right and about this time -- by the year a little over a year ago they had another case where they completely ...
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[0:02:29] ... a 2.3 percent much more in an earlier report it. Looks like General Motors may be turning things around with GM reporting a third quarter loss of one point two billion dollars. But that's better than losses posted in previous quarters and GM says it will start repaying the six point seven billion dollars in government loans. Next month. This Space Shuttle Atlantis poised to ...
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[0:00:29] ... Ponzi scheme. This is the ultimate borrowing from Peter to pay Paul. General Motors has received over sixty billion dollars in cash from the US taxpayer by way of loans. That were turned into equity by a bankruptcy court. It also received six point seven billion dollars that were not turned into equity and thus remain an obligation and GM's books. GM now wants to use a portion of the sixty billion in taxpayer dollars to pay back to six point seven billion. In taxpayer dollars I know. Money is fungible. But claiming that GM is now making a profit. And somehow should be lauded over this is absurd. The Fed should never bailed -- GM in the first place look at the pattern here GM loses money on every car manufactures. It borrows money from the government in order to -- back senior lenders sooner or later the government as one of ...
[0:02:08] ... to qualify for these funds which -- plainly are not because. The General Motors the wing of General Motors that actually did financing and had some -- of the financial industry. Had already -- spun off so on top of everything ...
[0:02:51] ... In the past 24 hours that I want to ask you about. GM announced that in the first quarter of 2009. During its ownership by the government. During its management by a team that the ...
[0:03:36] ... BS factor is self evident you know part of the problem with GM as well and this is also one of the reasons why. The government for all sorts of reasons that -- made a tremendous mistake by bailing out GM but. In 2007. GM is set a record for the number of course that it's sold. It sold more course than Toyota and if loss. Billions of dollars in its best year ever and now that we are in you know every auto analysts this for forecasting. Years of sub par sub average car sales. There is no way that GM is going to be able to -- come back to something like profitability any time soon. The better option would have -- ...
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[0:00:09] ... In its first earnings report since its bankruptcy it turns out GM lost one point two billion dollars. During the period from when it left bankruptcy protection in July through the end of September. That's a loss of about 10000 dollars a minute but GM says that actually means things are looking up. The fox reports chief toward south and -- with me now how can you ...
[0:00:40] ... said the -- they shows this lower than expected loss. Is that GM is finally generating cash again at a greater rate than it is burning through. Its reserves that means while there's still a ...
[0:01:11] ... donations that have basically been turned into a government ownership stake. GM owes a total of six point seven billion dollars it says it will in December. Payback one point two billion dollars of that money and it says it will pay it in repay in full by 2010. And that John. Would be five years ahead of schedule what about this report the GM wants to spend money on tacked on on opera taxpayer money on operations overseas yet -- spending hundreds of millions of dollars in a variety of country setting up big facilities that in Brazil. In China and South Korea in Mexico. Now indeed that the problem for some lawmakers is is that that is trading jobs in those countries when they say. Given the taxpayer money that's being invested in GM the job should only be created in the US GM says when you -- actually say official what is and is not a taxpayer dollar and they say anyway. All of these ...
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[0:00:02] ... You've probably heard a General Motors says that it is on the rebound so much of everyday on that by the end of this year this year is ...
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[0:00:48] ... sons are too clumsy. Yeah. Another developing story for you this morning General Motors just came out with its first earnings report since emerging from bankruptcy and is reporting a one point two billion dollar loss. ...
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