GM to show profit in 2011? - Dodge Nitro Forum
Chrysler/Dodge/Jeep News Find out the latest scoop here!

 
LinkBack Thread Tools Display Modes
post #1 of 1 (permalink) Old 06-05-2009, 10:40 AM Thread Starter
Super Moderator
 
rickaren's Avatar
 
Join Date: Nov 2006
Location: Indiana
Posts: 22,753
Garage
GM to show profit in 2011?

GM expects to show annual profits in 2011

Posted Friday, Jun 5, 2009, 11:40 am in Employee News

General Motors Corp. expects to return to annual profits in 2011 and estimates stock in the new company it will launch from bankruptcy will be worth as much as $48 billion, according to estimates filed Thursday in its bankruptcy case, the Detroit Free Press reported.

The figures, the first provided by the company, show the tough haul ahead for the U.S. government to make money on its investment in rescuing the nation’s largest automaker, despite a bankruptcy restructuring that will slash its debt and overhead, the paper said. The company’s financial adviser, Evercore Partners, offered projections for GM’s finances in its bankruptcy case based on several scenarios, the Free Press said. It forecasts that GM will lose $17.5 billion this year before reaching a profit of $3 billion in 2011 before taxes, rising to $7.8 billion in 2014, the paper said.

The new GM will count on a rebound in U.S. vehicle sales from about 10 million this year to about 16 million by 2012 to pull back into profitability, pumping up its output from 3.8 million vehicles worldwide this year to 6 million by 2014, the story said. The estimates are slightly more pessimistic than what GM used in its Feb. 17 plan, but match those of some analysts, the paper said. (Detroit Free Press)

Rick

Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
rickaren is online now  
Sponsored Links
Advertisement
 
Reply

  Dodge Nitro Forum > Dodge Nitro News & Polls > Chrysler/Dodge/Jeep News

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Dodge Nitro Forum 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











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
CEMA Charity Car Show rickaren Chrysler/Dodge/Jeep News 0 05-21-2009 12:14 PM
Charity Car Show rickaren Chrysler/Dodge/Jeep News 0 05-21-2009 12:10 PM
2009 Detroit Auto Show / North American International Auto Show (NAIAS) rickaren Chrysler/Dodge/Jeep News 0 01-11-2009 07:04 PM
Detroit auto show will be lean and green rickaren Chrysler/Dodge/Jeep News 0 01-09-2009 02:51 PM
Chrysler won't show profit in '08 rickaren Chrysler/Dodge/Jeep News 0 04-19-2008 05:16 PM

Posting Rules  
You may not 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