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tgagneguam · 08-02-2008, 10:13 AM

It's funny, when a successful company does well, it simply posts a profit, quarter after quarter, year after year. There's no need for explanations, there are no footnotes, there's no lengthy, contorted accounting mumbo-jumbo to explain that the situation isn't as bad as it seems. There's usually just a few simple statements: our revenue grew, and we made this much from that increased revenue. Plain and simple. Sure, GM didn't really lose $15.5 billion last quarter, but even when you take away these inconsequential (ahem) paper write-offs, they yet again did not bring money through the door. And that's important.

I am not an accountant, but I can tell that each quarter GM needs to start 'splaining away an awful lot. This has happened for quite a few quarters, and I imagine it will continue well into '09. And that comes across as quite suspicious and certainly not indicative of a healthy company, media bias and its grand conspiracy to destroy GM, notwithstanding.

08-02-2008, 10:13 AM	#5 (permalink)
tgagneguam 7.0 Liter LS7 V8 Join Date: Aug 2003 Posts: 6,936	Re: A shocking number, but not a death knell It's funny, when a successful company does well, it simply posts a profit, quarter after quarter, year after year. There's no need for explanations, there are no footnotes, there's no lengthy, contorted accounting mumbo-jumbo to explain that the situation isn't as bad as it seems. There's usually just a few simple statements: our revenue grew, and we made this much from that increased revenue. Plain and simple. Sure, GM didn't really lose $15.5 billion last quarter, but even when you take away these inconsequential (ahem) paper write-offs, they yet again did not bring money through the door. And that's important. I am not an accountant, but I can tell that each quarter GM needs to start 'splaining away an awful lot. This has happened for quite a few quarters, and I imagine it will continue well into '09. And that comes across as quite suspicious and certainly not indicative of a healthy company, media bias and its grand conspiracy to destroy GM, notwithstanding.