Quote:
Originally Posted by tgagneguam
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.
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Even when GM was making profit, the broadcasts were just as lengthy and they went into detail about what worked, what didn't work and how they plan to improve. Its the same for every company, the only difference is that the press will decide which is the spin they want on things, to most people they don't care if a company makes money, but if they lose some, they want to know why and where.