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this post was submitted on 15 Sep 2023
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“The automakers, however, say they’re facing unprecedented demands on capital as they develop and build new electric vehicles while at the same time making gas-powered cars, SUVs and trucks to pay the bills.“
GM's full-year 2022 revenue was $156.7 billion.
Keep clutching your pearls, automakers. You disingenuous fucks.
and the government keeps giving them plenty of handouts to make the transition “easier”. fucking insane.
Oligarchies are expected to lie, cheat, and steal. That's what makes them an oligarchy.
General Motors Co. booked $9.9 billion in net income last year, down from 2021's $10 billion despite chronic supply chain woes, rising interest rates and a slowing economy.
GM's comparatively strong financial performance enabled the Detroit automaker to deliver profit-sharing bonuses of $12,750 to approximately 42,300 hourly employees (total number of employees in 2022 was 167,000) - GM's highest such profit-sharing payout. The bonuses total $500 million for the year, the company said.
https://www.detroitnews.com/story/business/autos/general-motors/2023/01/31/gm-reports-nearly-10-billion-in-profit-in-2022/69856635007/
https://investor.gm.com/news-releases/news-release-details/gm-reports-third-quarter-2022-results
How well do you sleep well at night after shilling for large corporations online?
“GM's full-year 2022 revenue was $156.7 billion, net income attributable to stockholders was $9.9 billion and EBIT-adjusted was a record $14.5 billion. Results were at the high-end of the company's revised EBIT-adjusted guidance range.”
https://www.prnewswire.com/news-releases/gm-releases-2022-fourth-quarter-and-full-year-results-and-2023-guidance-301734091.html
I'm sorry, what the fuck are you talking about?
Is raw earnings data too biased for you? What point do you think im trying to make?
Around these parts you can't just put information without stating your bias. Your bias WILL be assumed and you WILL be canceled.
We have so much capital demand that we did almost 3 billion in stock buybacks the last two years... yeah that makes sense. They just bought back shares 3 months ago.