The Cellar - Gas Prices: Who's to Blame?

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GM Has $15.5 Billion Loss on U.S. Sales Drop, Leases (Update4)

Quote:

General Motors Corp. reported a second-quarter loss of $15.5 billion, the third biggest in its 100-year history, because of plunging U.S. sales and the declining value of truck leases. The shares fell as much as 11 percent.

The deficit of $27.33 a share compares with a profit of $891 million, or $1.56, a year earlier. Excluding costs GM considers one-time, the per-share loss was 4 times bigger than analysts projected. Labor strikes contributed to a $9.9 billion drop in North American revenue, and sales worldwide tumbled 18 percent to $38.2 billion.

The results step up pressure on Chief Executive Officer Rick Wagoner, 55, to show he can revive the largest U.S. automaker. Wagoner, in his ninth year as CEO, has posted $69.8 billion in losses since 2004 and is trying to raise as much as $17 billion in cash while speeding the development of fuel-saving cars to replace the sport-utility vehicles being shunned by U.S. buyers.

``They really need those external fund-raising measures to get through to 2010,'' said Brian Johnson, a Chicago-based Lehman Brothers analyst, in a Bloomberg Television interview. ``We cannot count on an economic rebound.''

OK tw, we get it... wait - Classic?

I filled up the gas tank in that little ford focus I bought. I went 352 miles on 9.8 gallons. In the city. :D Not sure about the 70 HP/L though.

Quote:

Originally Posted by lookout123 (Post 473268)

OK tw, we get it... wait - Classic?

Again, I figured I'd save us all another 2000 word post - thats all.

It was an interesting read too - lotta info. I found some of the numbers a little confusing to me though. Its like I need something to relate them to, otherwise they aren't as relevant. Like they posted the 3rd largest loss in it 100 year history. Well could they do that in $% so it means more to me.

Also, I noticed the foreign car company #'s were posted in % instead of $$$. Seems to have more meaning that way. Thoughts? Opinions?

I voted for:

Market speculators
Oil companies
aided by
US Automakers
US government/lawmakers

Quote:

Originally Posted by lookout123 (Post 473269)

Not sure about the 70 HP/L though.

Exactly 70hp/L. The new North American Focuses have a 2.0 L engine that produces 140hp.

Hey, do you have SYNC and the optional ambient lighting in yours?

Quote:

Originally Posted by sycamore (Post 473312)

Exactly 70hp/L. The new North American Focuses have a 2.0 L engine that produces 140hp.

Hey, do you have SYNC and the optional ambient lighting in yours?

wow, too bad that technology is decades old...

anyway, yes I do have the SYNC system and so far am enjoying it to the point that i haven't even plugged my iPod in yet as I'm just using a memory stick to see the features the SYNC has within it. The phone mic and speakers work well too. Ambient lighting I'm not sure about, I haven't noticed a lava lamp if that's what you mean.

- Bump -

Here we go again.
I guess we are making some type of dent on the terrorist front - Apparently they need more money.
Gas prices to top $3.00 this summer.

The higher prices go the more people are motivated to make changes. I hope it goes to $5.00 a gallon.

I agree. It would be better if gas prices were maintained at $5/gallon. It's the up and down that causes distress.

Really. Fuck the working stiffs. They'll figure it out.

Elitist.

What do I care if my weekly gas bill changes from 45 to 90 a week? Its only another .... $200 a month. I'll just take that outta my... uh... my... well actually I have nowhere to take that from. Now what?

I guess I can tell my boss that I cannot afford to go to work anymore and therefore lose my job and go on unemployment. :eyebrow:

Quote:

Originally Posted by classicman (Post 650587)

Giving $5 blow jobs in North Philly.:p:

Hey, it's 100% profit! And I know somebody with some semen recipes.

Quote:

Originally Posted by classicman (Post 650587)

Exactly.

Mr Money doesn't care, though. Wonder what kind of gas-sucker he drives? Wonder if 5 dollar gas will motivate him to trade it in? Pitching in for the future of the world, or looking out for Number 1, as usual? :right:

This is a standard seasonal bump and prices will similarly decline in September.