[lbo-talk] GM-UAW agreement

[Lenin's Tomb]

On 9/26/07, Jordan Hayes <jmhayes at j-o-r-d-a-n.com> wrote:
>
> Well, GM's stockholder equity is negative.  Those "billions" are gone.
> Cash-in-the-bank covers about half of GM's outstanding debt ($20B of
> $40B).  Net income has been negative for the past 3 years.

Well, I don't know how to handle these stats, but the figures I had read
suggested that GM was still making profit despite a dramatic decrease on
last year, but that last year had recorded net profits.  Secondly, I think
these falls are likely to be cyclical rather than long-term.  They were
raking it in only a few years ago, and I reckon they're using
temporary shortfalls as an excuse for a war on their employees.