Equitable taxing with Sen. Sanders
GM Has $15.5 Billion Loss on U.S. Sales Drop, Leases
Aug. 1 (Bloomberg) — General Motors Corp., the largest U.S. automaker, reported a second-quarter loss of $15.5 billion because of plunging U.S. sales and the declining value of truck leases.
The deficit of $27.33 a share marks GM’s fourth straight quarterly loss and 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. [snip]
Big Oil rapes the Public
Exxon Mobil reported today its best quarterly profit in history…[],,,Senator Bernie Sanders (I-Vt.) reacted in remarks prepared for a Senate floor speech:
“Today there is some good news and some bad news. The bad news is that oil is at $123 a barrel and working people are paying $4 for a gallon of gas, and this coming winter residents of the Northeast could be paying over $5 for a gallon of heating oil. But there is some good news. Today, the CEOs of Exxon Mobil, Shell, BP and ConocoPhillips are celebrating. They’re feeling pretty good. And, they have good reason to feel that way. [snip]
Senator Sanders made no mention of giving GM any windfall loss tax rebate.
Rather curious that he thinks in that way, isn’t it?
Another thing Senator, the animal rights faction here at NER
want to know why you are wearing a lamb pelt on your head.
Archived in: Bernie Sanders, Congress, Corporate taxes, Progressives, Socialism, TaxationAugust 1, 2008 at 9:34 am | Trackback
7 comments
The lib mindset is consistent. They visualize the suits in both these companies as guys with monacles, in offices the size of basketball courts; posing in front of huge protraits of three generations of themselves. You know that every prog is an Upton Sinclair, and to them every day laborer is a Tom Joad. Talk about living in the past.
And that’s not a lamb pelt, it’s fungus. That head never gets used.
Hotspur:
You insult fungus by equating it to the Comrade Senator’s hair.
I need re-education in fungus dignity, Bryan. I know that now. Multifungalism is the next thing.
Just have some fun-gi!
Kinda gives me a new respect for Henny Youngman.
As the man said, VW has NEVER been funnier! And that’s the problem. He’s NEVER been funnier.
Heh.
Actually Exxon/Mobile made over $42 billion, but only had $11 billion left after taxes. Who got the lions share? UNCLE SAM. The had enough left to give their investors an 8% return which is pi**poor in most high risk investment circles. Uncle and his herd of theives could give GM an amount equal to their losses and still have a pile of Exxon/Mobile money ‘they didn’t work for’.