General Motors: acceleration losses and refunds
The new company General Motors announced that it generates losses of 1.151 billion U.S. dollars for the quarter ranging between 10 July and 30 September 2009.
For the same period, the sales approach the $ 26.4 billion, if we look at the preliminary data of the manufacturer. For cons, the revenues of the new company, have experienced a slight increase and a height of 4.9 billion, compared to the figures recorded by the old company, in the second quarter.
These results that are regarded as promising in the circumstances, are the result of sales that have progressed to 6%, especially gratified by the discounts offered by the program 'Prime was the case. In addition, there are good results on the Chinese works and by reductions in production costs cut by more than half.
The good news for GM
By the same occasion, the President Fritz Henderson has confirmed the intention of the company to repay the American, Canadian, Ontario and German governments have largely contributed to the rescue of GM.
As proof, General Motors will pay and in the coming quarters, loans made by them. Thus, a first installment 1.2 billion will be paid next month.
Recall that the debts contracted by General Motors to the different governments be aggregated to $ 17 billion, including:
6.7 billion loan from the U.S. government.
1.4 billion of loans from the Canadian and Ontario governments.
1.3 billion of loans made by the German Government.
The former company General Motors closed its books with a total debt of 94.7 billion U.S. dollars wholesale.
A ridiculous salary?
Following a decision taken by the American legislators, leaders of companies that have been bailed out with public funds, must satisfy themselves that wages for them, are highly ridiculous and we see here that the main managers of the new company General Motors, does not want to settle for a meager salary of $ 500,000 annually for a long time, and to return as quickly as possible to their emoluments to the tune of millions of dollars ...
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